Cardano builder, IOG has announced the successful deployment of the Vasil mainnet Hard fork combinator event. At 21:44:00 UTC, the IOG team, in collaboration with the Cardano foundation, successfully hard-forked the Cardano mainnet via an HFC event, thus deploying new Vasil features to the chain.
The Vasil upgrade hopes to bring significant performance & capability enhancements to Cardano, from higher throughput capability via diffusion pipelining to a better developer experience with much-improved script performance, efficiency, and lower costs.
According to IOG, the Vasil upgrade remains the most ambitious program of work it has undertaken. It says in a thread of tweets,’’ Today is a culmination of months of hard work, not just for IOG and Cardano foundation teams, but for the whole community”.
On September 27, at the start of the new epoch, the new Plutus V2 cost model will be active on the chain, thus opening up full Vasil functionality for the developer community.
Reacting to the launch, Frederik Gregaard, CEO of the Cardano foundation took to Twitter to celebrate,’’ Vasil is complete. Thank you to everyone who has worked on this upgrade, especially our SPOs that played a vital role in making this possible.
He went further to share his thoughts on what Vasil means for Cardano. He wrote in a thread of tweets,’’ Cardano’s technology is defined, and continuously improved upon, through evidence-based development methods. The Cardano Foundation’s goal is to provide a secure, transparent, and accountable solution through blockchain technology for positive global change’’.
He further added,’’ The Vasil hard fork moves us towards this goal by improving Cardano’s foundational features, upgrading the technology’s capacity to transform our traditional financial and social systems, and ultimately advancing decentralized economic empowerment’’.
‘’Where previous development eras focused on decentralization and new functionality, Basho is focused on improving the underlying performance of the Cardano network to support further growth and adoption for applications with high transaction volumes’’.
He concluded,’’ Vasil will enhance Cardano’s smart contract capabilities through Plutus V2 scripts and cost model, which adds greater efficiency to an already powerful smart contract platform. Ultimately, it will reduce script execution costs and transaction size, plus improve throughput’’.
At the time of publication, ADA was trading up 6% at $0.459.
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