Cardano’s Hoskinson Shows Faith In Vasil Upgrade As ADA Remains Rangebound, Breakout Incoming?

Charles Hoskinson, Cardano’s co-founder, has expressed confidence in the Vasil hard fork upgrade going live soon, stating that he doesn’t anticipate any further delays.

Speaking on Monday in an update video to the Cardano community, the software engineer noted that most stress-tested components were in their final stages. He went on to state that he was confident that version 1.35.3, one of the software stemming from three bugs discovered earlier, would likely make it to the hard fork.

“The good news is that the set of things that could go wrong has gotten so small, and now we’re kind of in the final stages of testing in that respect,” said Hoskinson. “So unless anything new is discovered, I don’t anticipate that we’ll have any further delays.”

Hoskinson, the founder of Cardano’s developer arm, Input Output Global (IOG), stated that Vasil was the most complicated upgrade to Cardano and its history. This was because it includes both changes to the programming language, Plutus, as well as changes to the consensus protocol and a litany of other things.

“The problem is that every time something is discovered, you have to fix it, but then you have to verify the fix and go back to the entire testing pipeline…so this is what causes release delays,” Hoskinson added. According to him, the failure to detect and solve a bug issue- no matter how small- could expose the network to future vulnerabilities and lead to the production of a fork.

Last week the Vasil upgrade was postponed yet again “for a few more weeks” despite earlier being slated for June. In a monthly update call, IOG’s technical manager Kevin Hammond stated that they needed some more time to run tests on the network to ensure a smooth upgrade. 

All users have to be ready to progress through the hard fork to make sure the smooth process, both for them and end users of the Cardano blockchain,” Hammond had said at the time.

That said, despite the Vasil upgrade being highly anticipated for months, its light effect on ADA, Cardano’s native coin remains to be seen. 

After plunging by over 80%, ADA has remained trapped in a range, pivoting between $0.55 and $0.40. The cryptocurrency is trading at $0.4967 after a 2.82% drop in the past 24 hours. It has, however, grown 8.75% in the last seven days based on data from CoinGecko.

Related Posts

Brazil’s Largest Broker XP Just Launched Bitcoin Trading Services

The broker has 3.6 million users and its new trading platform developed in partnership with the Nasdaq can scale to support one million users for bitcoin trading….

NFT Games Are Better Than Traditional Games, Urvit Goel

The gaming industry is one of the oldest in existence. But changes came to the sector with the advent of blockchain technology and NFT. Now, a lot…

Sri Lankans Scammed out of Millions by Fake Crypto Schemes

Ponzi scammers are compounding the economic misery of Sri Lankans by swindling them out of their savings with bogus crypto schemes. Crypto investor Harshana Pathirana told Al Jazeera: “I…

ETH Rejected From $2K, Here’s the Critical Support to Hold (Ethereum Price Analysis)

Ethereum has experienced a 6.6% correction from the daily high it recorded at $2012. The critical support level lies in the price range between $1700 and $1800,…

Cardalonia Debuts Metaverse Map Demo, Prepares For Exchange Listing As 70% Of Lonia Token Presale Allocation Gets Filled

Cardalonia, a play to earn medieval-themed Metaverse project built on the Cardano blockchain, has released the initial demo of their metaverse map ahead of their Cardalonia Land…

U.S. Senators Call for Withdrawal of Crypto Guidance in Open Letter

U.S. Democratic Senators Elizabeth Warren, Sheldon Whitehouse, Bernard Sanders, and Richard J. Durbin wrote to the Office of the Comptroller of the Currency (OCC), expressing concern that…

Generated by Feedzy