Cardano’s core technology program manager, Javier Franco, said the team’s priorities are to make sure things are “done right“, even if it takes longer to launch the Vasil hardfork.
Cardano delays again the hardfork Vasil
Kevin Hammon, CTO of Cardano developer Input Output Global, said in an interview Thursday that the long-awaited Vasil update would be delayed to complete testing and ensure a “smooth process“. He added that it could take “a few more weeks” before the update is ready to be put online.
According to Input Output’s Core Technology Program Manager, Javier Franco, the Vasil hardfork is the “most important update” of Cardano to date. “There are many moving parts, many outbuildings” he said, explaining that the team’s priority is to ensure that “things are done right“, even if it takes longer to launch the update.
The hardfork was originally scheduled to go live on June 29, but as the deadline approached, Output moved the goal post to the last week of July to “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 undertaking Cardano has undertaken to date. In addition to the sheer technical complexity of the code itself, the upgrade requires significant coordination among ecosystem stakeholders to ensure a smooth transition.
Cardano is the eighth largest crypto-currency 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 crypto-currency industry, it has failed to build a vibrant DeFi ecosystem like many of its direct competitors. According to Defi Llama’s data, it holds about $136.65 million in total locked value. Ethereum, the largest smart contract network, holds closer to $57.44 billion while Solana holds $2.69 billion.
Cardano’s native 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.