The highly anticipated Vasil hardfork was performed on the Cardano testnet. This brings the network a big step closer to the upgrade. This should bring with it comprehensive performance improvements.
Project developers, stake pool operators (SPO) and exchanges are now being asked to bring their work to the testnet to ensure that the integrations work smoothly when the mainnet does the Vasil hardfork in about four weeks.
We’re happy to report that today at 20:20 UTC the IOG team has successfully hard forked the #Cardano Testnet. This is an important next step in the journey towards the Vasil upgrade on mainnet.
– Input Output (@InputOutputHK) July 3, 2022
As soon as the Vasil hard fork has been performed on the mainnet, faster block creation and greater scalability for decentralized applications (dApps) will be possible. Input Output HK (IOHK), the organization behind Cardano, said in a tweet on Sunday that in addition to the performance improvements, developers can also expect “significantly improved script performance and efficiency” and lower costs.
Vasil also wants to enable interoperability between Cardano sidechains. This is one of the main functions that the developers want to introduce in the current Basho phase. Basho is the fourth phase of development of Cardano, which is focused on scaling and then superseded by the Voltaire phase, which focuses on governance.
The Vasil upgrade is now live on testnet, coming to mainnet in a few weeks. Expect Cardano DeFi to go into the rapids from here
– ADA whale (@cardano_whale) July 3, 2022
IOHK also stated that a hard fork on the mainnet would not be proposed until “the ecosystem partners are comfortable and ready”. However, it is expected that this will be the case in four weeks.
In the previous phase, called Goguen, a smart contract feature was introduced on Cardano, which was used by DeFi developers to launch a series of decentralized exchanges and DeFi protocols, according to data from the ecosystem tracker Cardano Cube.
Cardano’s top DApp, namely the DEX WingRiders, has a TVL of $ 49.7 million, according to data from DeFi data aggregator DefiLlama.
The Testnet hard fork has only slightly moved the course of Cardano (ADA). According to CoinGecko, it has only risen by 0.1 percent to $ 0.45 in the last 24 hours.