Cardano has delayed the Vasyl hardfork for “a few more weeks”.
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According to Kevin Hammon, Cardano's technical manager, it could be “a few more weeks” before the network starts rolling out the Vasyl update. Vasil is Cardano's most sophisticated upgrade that aims to improve the network's scalability. It was originally slated to begin on June 29, but suffered two delays to allow more testing time.
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Javier Franco, Cardano's chief technology program manager, said that while it will take more time to launch Vasyl's hardfork, the team's priority is to “make sure it's done right.”
Cardano delayed the Vasyl hardfork again
Cardano's Vasyl hardfork has been delayed again after last month's failed launch.
Kevin Hammon, Global Technical Manager of Cardano developer Input Output, said in Interview on Thursday He said the long-awaited Vasyl update would be delayed to complete testing and ensure a “smooth process”. He added that it could be “a few more weeks” before the update is ready to go live.
According to Input Output's Chief Technology Program Manager Javier Franco, Vasyl's hardfork is Cardano's “most important update” to date. “There are a lot of moving parts, a lot of dependencies,” he said, adding that the team's priority is to “make sure things work right” even if it takes more time to start the upgrade.
The hardfork was originally scheduled to go live on June 29, but when the deadline passed, input output moved Goal post by the last week of July to “give more time to test”.
The update promises to greatly increase Cardano's scalability. Input Output Cardano has previously stated that it is the most complex task he has undertaken to date. In addition to the mere technical complexity of the code, the upgrade will require a high level of coordination among the ecosystem's stakeholders to ensure a smooth transition.
Cardano is the world's eighth largest cryptocurrency with a capitalization of around $17.5 billion. However, despite being one of the crypto industry's oldest and most popular Layer 1 smart contract networks, it has not been able to build a vibrant Diffie ecosystem like many of its direct competitors. According to information from Defi Lama, the total value is locked at around $136.65 million. Ethereum is the largest smart contract network with a market capitalization of approximately $57.44 billion, followed by Solana with $2.69 billion.
Cardano's native token ADA was hardly affected by Vasyl's extension news. According to CoinGecko, it is currently trading at $0.52, which is up 5.7% on the day.
Disclosure: At the time of writing, the author of this article owns ETH and several other cryptocurrencies.
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