Cardano (ADA) Vasil Upgrade Is ‘Ever Closer’ as Upgraded SPOs Make Up 42% of Blocks

Input Output Hong Kong (IOHK), the blockchain company behind the Cardano network, has announced that the Vasil hard fork is “ever closer” after making significant progress over the last week.

Vasil Is Closer than Before

After multiple delays, the IOHK has finally announced in its latest rollout status that the Vasil upgrade is “ever closer” than before. The IOHK provided updates on “three critical mass indicators,” which will determine when the mainnet update will go ahead.

According to the IOHK, before the mainnet upgrade can go live: 

  • A minimum of 75% of mainnet blocks must be produced by nodes running 1.35.3.
  • 25 exchanges, representing 80% of ADA liquidity, should be upgraded.
  • The top ten key mainnet Dapps should also have upgraded.

The Rollout Status of Vasil

Providing an update on the progress of the rollout, the IOHK stated that Stake Pool Operators (SPOs) running the latest node 1.35.3 now account for 42% of mainnet block production, more than half of the minimum requirement.

According to the IOHK, Binance, a key liquidity provider for ADA, has upgraded its Cardano nodes to the latest version. So far, four of the top 10 decentralized applications on the network by TVL have tested the latest node version.

On the Flipside

  • However, the IOHK noted that there are a total of 9 Sev4 or Sev5 (minor) bugs outstanding in the backlog that need to be fixed before the upgrade.

Why You Should Care

When the minimum requirements are met, the IOHK will be ready to perform the highly-anticipated Vasil upgrade on the Cardano mainnet.

The update confirms the reports of Cardano developer:
Cardano’s Ecosystem Developer Says Testnet Is Now “Better Than Ever”

Even before the upgrade, Cardano is a top chain. Read:
Cardano (ADA) Is More Energy Efficient than YouTube, PayPal, and Netflix

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

Rate This Article
In order to improve, we give you the opportunity to rate DailyCoin content
Author

Milko is a DailyCoin reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs).