Cardano Hard Fork Is Coming Soon
Cardano Hard Fork will launch in September, states its Founder Charles Hoskinson, saying “We’re not quite over the finish line.”
Cardano is a peer-reviewed proof-of-stake (PoS) blockchain that supports smart contracts and NFTs, and aims to solve global challenges around identity management. Its token, ADA, is the 8th largest crypto by market cap, according to CoinMarketCap.
In a livestream on Friday, Cardano founder Charles Hoskinson shared a brief update on the Vasil hard fork, named after a Cardano evangelist and mathematician, Vasil Dabov, who died recently.
“Extensive testing is still being done,” Hoskinson said. He shared technical details surrounding the hard fork’s progress, including a number of bugs he’s aware of that will need fixing.
Crypto hard forks happen when participants on a blockchain network agree to upgrade their software to a new version more or less simultaneously. It’s a major upgrade compared to a soft fork, which typically takes less time and allows network participants to slowly update their software over time.
Cardano Hard Fork Date: When Will It Occur?
Hoskinson—who also co-founded Ethereum—told viewers the hard fork will happen “sometime in September.” Perhaps not coincidentally, the long-anticipated Ethereum merge is supposed to happen on or around September 15.
However, the definitive date of the Caldano Vasil hard fork will depend in part on the crypto exchanges. Hoskinson said: “The next major lift is to get the exchanges on board. Binance is reporting that they’re currently upgrading by volume.” He added that “generally, what happens is after a hard fork date is announced, you see a big rush and people push through.”
Hoskinson said that once the biggest three to five crypto exchanges have upgraded their systems, “a hard fork date will be set,” “Then, the rest of the exchanges feel the urgency and they start upgrading. It’s really hard to get them otherwise—they tend to need a bit of a push for that. We’re not quite over the finish line, but everything looks pretty good.”
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