The Cardano ($ADA) community has confirmed it is ready for the network’s Vasil hard fork after it managed to achieve all three “critical mass indicators” necessary for the upgrade to go smoothly. The Vasil hard fork is scheduled to occur in the next few hours.
According to a Twitter thread shared by the company behind Cardano’s development, Input Output, within the last 48-hour period a total of 13 cryptocurrency trading platforms have confirmed they are ready for the Vasil hard fork, bringing the total to 39 cryptocurrency exchanges, which represent 87.59% of ADA’s liquidity.
On a detailed ecosystem readiness report, Input Output noted that out of most major cryptocurrency exchanges, only Coinbase and Kraken have their status set as “in progress” as opposed to “ready.” In a tweet, however, Coinbase has signaled it will halt ADA deposits and withdrawals over the hard fork, suggesting it’s ready for it.
The Vasil hard fork was set to go live in June, but it was delayed for an abundance of caution. Its most recent delay was over a bug discovered in Cardano’s prior node version, which created compatibility issues. According to Input Output, no 98% of mainnet blogs are being created by the newly upgraded Vasil node.
Moreover, the top decentralized applications on Cardano’s decentralized finance ecosystem have “confirmed they have tested and are ready.”
The Vasil hard fork is set to be the most significant one on the cryptocurrency’s network since the Alonzo one, which brought in smart contract functionality in September of last year. Vasil is set to bring in smart contract enhancements while boosting the network’s throughput and reducing costs.
As reported, popular analyst Michaël van de Poppe has recently suggested that Cardano’s upcoming Vasil hard fork, which is expected to deliver a “massive performance improvement” to the network, presents “massive opportunities” for $ADA.
Moreover, Cardano’s network has recently surpassed the 50 million transaction milestone after processing well over 50,000 transactions per day over the past few weeks.
Featured image via Pixabay
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