According to founder Charles Hoskinson, the Cardano blockchain network is set to undergo its Vasil hard fork upgrade in September. Hoskinson revealed this in a video yesterday where he discussed the forthcoming upgrade.
If No Major Bugs Show Up, Vasil Could Go Live in September
At the moment, the Cardano devs are working alongside the community and running tests on node version 1.35.3. As Hoskinson noted, the team is using a lot of community infrastructure for the upgrade. However, he said, so far things seem to be going well with a lot of progress in a short time.
Hence, the Cardano founder predicts that the upgrade will go live sometime in September. Again, the team will consider community input as they decide on an exact date. Of course, their decision depends on whether any glitches or major setbacks get in the way of development.
Fortunately, things appear clear on that end, as Hoskinson stated that there were no major bugs aside from a small issue with the backlog. “Doesn’t look too bad,” he noted, also sharing that the team is currently assessing the problem.
Cardano to Onboard Exchanges and Hit 75% Block Production
Following this, Hoskinson then stated that the next major move for the platform is to get exchanges onboard with the upgrade. According to him, Binance accounts for 30-40 percent of the Cardano trade volume with Kraken, Coinbase, and others not far behind. Cardano aims to first integrate 1.35.3 on the 3-5 of the leading exchanges by trading volume to create liquidity.
Generally what happens is that after a hard fork date is announced, you see a big rush, and people push through,” said Hoskinson.
Hoskinson also shared some data from PoolTool during the video. He claimed stake pool operators (SPOs) on node 1.35.3 handle 53% of mainnet block production in epoch 359. However, Cardano is gunning for 75% block production by SPOs before debuting the fork on the Cardano mainnet.
Thus, the team will hold meetings with the operators to hear the latest developments surrounding their preparations for the Vasil upgrade. Cardano will first hit its 75% block production goal and upgrade the top exchanges before unveiling the fork date.
Hoskinson expects that following this, other exchanges will begin to feel the need to upgrade. Notably, Binance has already announced that it is integrating 1.35.3.
Progress With Vasil Going Smoothly
Hoskinson closed by saying things look good overall.
Things are moving along very quickly. Extensive testing is still being done by both the community and still by us and a lot of integration work is happening behind the scenes so all of that infrastructure is looking good.”
Hoskinson’s update is in line with recent statements from Cardano developer, Adam Dean. Dean said he was bullish on Vasil, claiming in a tweet that the fork would take place earlier than expected.