Cardano Vasil Update Completed With All Critical Mass Indicators
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On September 21, Input Output Hong Kong (IOHK), the company that created Cardano, announced on Twitter that 13 cryptocurrency exchanges had confirmed they were prepared for the hard fork, accounting for more than 87% of Cardano's (ADA) liquidity.
According to a website by IOHK on ecosystem readiness, Coinbase is the only exchange among the top ones for ADA liquidity that holds its integration status labeled as "in progress." However, the Cardano Vasil hard fork will be supported, according to a recent tweet from Coinbase, which stated that ADA transactions would be suspended for maintenance.
Vasil Update Scheduled For June
The Vasil update's launch date was scheduled for June, but it was twice postponed, most recently because of a flaw in Cardano's previous node version that caused interoperability problems.
Upgraded Vasil nodes currently generate over 98% of mainnet blocks. The top decentralized apps (dApps) have also validated their availability, meeting all three criteria required for the upgrade to be approved.
Social Media Discussion
According to market intelligence platform Santiment, social media discussion about ADA increased by 35.16% during the previous seven days from September 19 due to news of the update, coming in third behind Ethereum (ETH) and Ripple (XRP).
Cardano Vasil Update - First Blockchain Change
When the upgrade goes live, it will be the blockchain's first change since the Alonzo hard fork in September of last year. It introduced smart contracts' initial capabilities. This upgrade aims to improve smart contracts while lowering expenses and boosting network capacity.
Block delivery without complete validation is one of the significant improvements brought by the fork, according to IOHK.