• Sun. Jun 23rd, 2024

Cardano price jumps after confirmation of Vasil Hard Fork coming sooner

Cardano (ADA) price started the day on a high note after jumping 3% following a recent tweet by Adam Dean, one of the IOHK developers, confirming that the Cardano Vasil Hard Fork may be coming sooner than expected.

According to Dean’s tweet, Stake Pool Operators (SPOs) running the 1.35.3 node now account for 63% of blocks according to a 12-hour chart data on PoolTool. This comes after the IOHK confirmed in a tweet confirmed the target of 75% block production on the 1.35.3 node for the much-awaited Vasil Hard Fork on the Cardano mainnet to be implemented.

Cardano’s price shot by more than 3% to a high of $0.48 just about 2 hours after Adam Dean.

The Vasil Hard Fork has seen continuous delays with the latest delay happening in July. The delays were caused by bugs in nodes 1.35.0 and 1.35.2. Some community members have also criticized IOHK for what they say is a rush to deploy the 1.35 node despite a bug being found on node 1.35.2.

Nodes running the Cardano mainnet

At the moment, 57% of 1.35.3 nodes are running the Cardano mainnet and developers have successfully tested the 1.35.3 node and component integration and some significant bugs have been identified.  There are also a total of 9 minor bugs in the backlog.

Besides a 75% block production on the 1.35.3 node, two other requirements are required for the Vasil Hard Fork to take place. the first is at least 24 exchanges upgrading the node to provide 80% of liquidity and the second is top 10 DApps testing against node 1.35.3 during the pre-production testnet.

So far Binance and other crypto exchanges have announced upgrading the 1.35.3 Cardano node. 4 top DApps have also confirmed testing against node 1.35.3.

Cardano’s Vasil Hard Fork benefits

The Vasil Hard Fork is aimed at improving Cardano’s security, smart contract performance, and scalability.

It will also allow developers to build more secure and efficient decentralized applications on the Cardano Network.

The post Cardano price jumps after confirmation of Vasil Hard Fork coming sooner appeared first on CoinJournal.