The Cardano Vasil Hardfork has been delayed due to pending bug fixes.
Key receivers
Cardano has extended its Vasyl hardfork update to the last week of July. Input Output Global, the company behind Cardano, cited seven bugs as the reason for the delay. Vasyl's hardfork is expected to significantly improve Cardano's core performance.
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Input Output Global, the development company behind Cardano, has postponed the network's long-awaited Vasyl hardfork update. The team said it had seven bugs and wanted to “give more time to testing”.
Cardano postponed the Vasyl update
The Cardano update that will take the network into the new “Basho” era has been postponed.
Input Output Global announced in a blog post late Monday that the start date of Cardano's Vasyl hardfork has been moved from its original target of June 29 to the last week of July. “After some consideration, we have agreed not to send the hard fork update proposal to the testnet today to allow more time for testing,” the IOG wrote, explaining that there are seven more bugs to fix, none of them serious.
Vasil's hardfork is Cardano's most significant update since Alonzo's hardfork launched last September. It comes as part of Cardano's long-term planned transition from GoGwen to the Basho era, dubbed “an era of optimization, improving network scalability and interoperability.” Where previous eras focused on introducing decentralized and smart contract capabilities to the network, Basho aims to improve Cardano's underlying performance to better support DeFi applications.
Specifically, Vasyl's hardfork introduces four key network updates: CIP31, CIP32, CIP33, and CIP40. These improvements are expected to strengthen the logic behind some of Cardano's Plutus scripts. Together, they are intended to increase network throughput and reduce transaction fees by reducing transaction volume. The hardfork is expected to improve the “concurrency” problem that has severely limited the performance of DeFi applications on Cardano.
“Work on Vasyl has been the most complex development and integration program to date on multiple fronts,” the IOG wrote in the announcement, explaining that significant coordination among ecosystem stakeholders is required to release the update. For this reason, IOG is leaving four weeks between the planned testnet and mainnet releases to allow exchanges and other ecosystem participants enough time to prepare.
Cardano's There are tokens. Reaction to the news was relatively muted. It has traded in a range of $0.48 to $0.50 since the announcement was made.
Disclosure: At the time of writing, the author of this article owns ETH and several other cryptocurrencies.
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