Cardano blockchain launches Vasil Hard Fork, ADA rises 5%

After Ethereum PoS, Cardano’s five-day Vasil hard fork is finally launched and live on the network. According to Cardano Foundation, the hard fork will enhance the blockchain’s overall performance.

Cardano blockchain has been working on improving the network’s scalability by doing the hard fork. The Cardano co-founder Charles Hoskinson said that this is the hardest upgrade since the launch.

Cardano Foundation delayed the hard fork for many months due to various technical issues. Now, the network’s Vasil upgrade is successfully launched, announced by IOHK on Twitter.

The Vasil upgrade will increase the speed of block creation without validation. Unlike other hard forks, the Cardano update utilizes the Hard Fork Combinator that preserves data from old protocol.

To explain it better, the hard fork will bring the new protocol but unlike other new protocols that separate a blockchain into two versions, Cardano remains one with the new rules.

According to IOHK, the Vasil hard fork requires no chain restart or splitting, the nodes are upgraded slowly, and the blockchain history is only one for all updates.

“Vasil will enhance Cardano's smart contract capabilities through Plutus V2... Ultimately, it will reduce script execution costs and transaction size,” Cardano Foundation CEO Frederik Gregaard told Decrypt.

The successful launch of the Vasil hard fork on the Cardano blockchain resulted in a hike in prices for ADA in the market. Within 24 hours, Cardano (ADA) rose by 5%. Currently, it trades at $0.4698.

After Vasil, Cardano is working on Hydra head protocol, a layer 2 solution to process transactions while keeping the network secure and stable.