The much-anticipated Vasil hard fork upgrade from Ethereum (ETH) challenger Cardano (ADA) is set to roll out today, with plans for developers to take advantage of the new features through next week.
Input Output Hong Kong (IOHK) and its CEO Charles Hoskinson say the mainnet update is ready to go.
“A joint [Input Output Global] and [Cardano Foundation] The team will use the Hard Fork Combinator to deploy Vasil at the log level on September 22nd. The new features will be available for developers to use on the mainnet exactly one epoch later, on September 27.”
Previously, ADA co-creator and IOHK CEO Charles Hoskinson said that the Vasil hard fork represents the next step in Cardano’s evolution and should improve its usefulness and scalability.
“In the future there will be a big retrospective on how we do things better. There will also be an in-depth talk about the overall Cardano architecture as it is and how we are taking it to the next level to make it more useful, portable, scalable and better for everyone…
It is becoming increasingly clear that the distance between us and everyone else is growing. We built Cardano to be the world’s financial operating system. We built it to transfer the unbanked. We built it as a community to give an economic identity to those who don’t have one so we can have a global fair marketplace.
It’s a crazy mission and it feels huge, but with Vasil coming on September 22 it feels a lot more achievable.”
The upgrade has prompted many prominent crypto analysts such as Michaël van de Poppe and Benjamin Cowen to predict rallies for the smart contract platform. Cowen said he expects ADA to hit $0.60, while van de Poppe said a price of $1.00 is not out of the question.
In preparation for the hard fork, crypto exchange titans Coinbase and Binance announced that they would be pausing ADA transactions during the upgrade.
ADA is trading at $0.45 at the time of writing, up 1.2% on the day.
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Featured image: Shutterstock/ValDan22