Cardano’s core technology program manager, Javier Franco, said the team’s priorities are to make sure things are “well done“, even if it takes longer to launch the Vasil hardfork.
Cardano again delays the Vasil hardfork
Kevin Hammon, CTO of Cardano developer Input Output Global, said in an interview on Thursday that the long-awaited Vasil update will be postponed in order to complete testing and ensure a “smooth process“. He added that it could run out “a few more weeks” before the update is ready to go live.
According to Input Output core technology program manager Javier Franco, the Vasil hardfork is the “most important update” of Cardano to date. “There are a lot of moving parts, a lot of dependencies“, he said, explaining that the team’s priority is to ensure that “things are well done“, even if the launch of the update takes longer.
The hardfork was originally scheduled to go live on June 29, but as the deadline approached, Input Output moved the goal post to the last week of July for “give more time for testing“.
The upgrade promises to significantly increase Cardano’s scaling capabilities. Input Output has previously stated that this is the most complex endeavor Cardano has undertaken to date. Besides the sheer technical complexity of the code itself, upgrading requires significant coordination among ecosystem stakeholders to ensure a smooth transition.
Cardano is the eighth largest cryptocurrency in the world with a market capitalization of approximately $17.5 billion. However, despite being one of the oldest and best-known layer-1 smart contract networks in the cryptocurrency industry, it has failed to build a vibrant DeFi ecosystem like many. its direct competitors. According to data from Defi Llama, he holds approximately $136.65 million in total value locked. Ethereum, the largest smart contract network, holds closer to $57.44 billion while Solana holds $2.69 billion.
The native Cardano token, was largely spared the news of Vasil’s postponement. According to data from CoinGecko, it is currently trading at $0.52, up 5.7% on the day.