The company behind the Cardano cryptocurrency, IOG (formerly known as IOHK), successfully conducted a hard fork on the testnet and called on developers, exchanges and staking pool operators to launch their projects.
According to the developers, this will allow necessary adjustments to be made before the update is integrated into the main network. Notably, the Vasil hard fork is one of the main features of the Basho Cardano phase, the fourth in a series of five eras of network building. The previous three focused on foundation (Byron), decentralization (Shelley), and smart contracts (Goguen), with Basho’s goal being scalability.
Once launched on the mainnet, the Vasil project will provide many scalability features for the Cardano blockchain. These include increased throughput or block creation speed, as well as better “script performance and efficiency.” In addition, all users will benefit from low fees. Moreover, Vasil will provide interoperability between Cardano and other blockchains.
IOG has stated that the Vasil update for the Cardano mainnet will only be released once the community is ready. As the company expects, this will be done in the next four weeks. IOG previously scheduled the Vasil mainnet hard fork for June 29, but the engineering team agreed to postpone the event to free up time to fix a few minor bugs.
Cardano is constantly accused of slow development and implementation of solutions for the development of the ecosystem. Last month, Cardano founder Charles Hoskinson said that the recent collapse of Terra proved the ineffectiveness of the explosive growth strategy, when the system expands uncontrollably and, after reaching a peak, collapses.