Vasil Upgrade Ready to Launch as Cardano (ADA) Meets All “Critical Mass Indicators”

After reaching the three critical indicators, Cardano is now ready to implement the highly anticipated Vasil upgrade, which promises to make the network more scalable and introduce several other improvements.

Cardano Is Ready for the Vasil Upgrade

The Cardano Team has announced that the network has reached all three “critical mass indicators” needed to trigger the Vasil upgrade. This means that Vasil is set to go live in the next few hours as more than 98% of Cardano’s nodes have been updated.

Shortly after Binance revealed its nodes have been upgraded for the hard fork, Input Output Hong Kong (IOHK), the team behind Cardano, announced that 39 exchanges representing over 87% of ADA’s liquidity had confirmed readiness for the hard fork.

In addition, the IOHK also announced that the top Cardano decentralized applications (dApps) ranked by TVL have confirmed readiness. In addition, the amount of ADA staked has hit $11.49 billion, overtaking BNB Chain and Avalanche.

Native tokens staking between blockchains

What to Expect from the Upgrade

While the Vasil upgrade should take place within the next 18 hours, it is only the first round of a five-day upgrade. The second half of the upgrade is expected to be completed by September 27.

When fully deployed, the upgrade is expected to enhance the network and make dApps built on Cardano “faster and more sophisticated.” In addition, greater scalability and lower transaction fees are also expected after Vasil goes live.

On the Flipside

  • Cardano (ADA) is showing no clear bullish signals ahead of the upgrade, trading marginally in the green with a +0.4% gain in the last 24 hours.
ADA graph coinmarketcap cardano crypto token

The 24-hour price chart for Cardano (ADA). Source: CoinMarketCap

Why You Should Care

The IOHK has referred to the upgrade as the “most significant update” on Cardano so far, and it promises to scale the performance of the chain.

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).