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ADA Price Rebounds as Cardano Steps Closer to Vasil Hard Fork

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VOC, Voice of Crypto, Cardano, ADA

Cardano (ADA) is halfway through its long-awaited Vasil upgrade after reaching a new milestone in the rocky process.

As reported by several Cardano developers on Twitter, the blockchain completed a hard fork event for Vasil on the YoloNet testnet. Renowned developer Adam Dean was the first to break the news in a tweet. The Cardano community has taken to the social platform to celebrate the achievement.

The breakthrough comes after a contentious discussion among the community about updating the project. Dean, a Cardano ecosystem influencer, had warned last week that the Cardano testnet was “catastrophically broken.” This is due to a bug in the latest version of Node 1.35.2.

After discovering flaws in that version, IOG, the development company behind Cardano, released a new version ( 1.35.3). However, despite claims that the node had been repeatedly tested and was ready for deployment, the community felt the need for further testing.

With this in mind, IOG launched a new testnet, first called “ Mixed ” but later renamed “ YoloNet,” which simulates the mixed node environment on the mainnet. The community wanted to ensure that nodes running versions 1.34.1, 1.35.2, and 1.35.3 could co-exist. Also, bugs from version 1.35.2 would not spread to other Cardano nodes.

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Cardano Testnet Is Successfully Upgraded

The successful update on YoloNet provides a staging space that allows developers to anticipate how the Cardano mainnet might respond once Vasil has been forked.

It is worth noting that Vasil is a much-anticipated upgrade that is expected to increase Cardano’s scaling capabilities. It has been cataloged as one of the most important developments of the project since it will allow us to give way to the new “ Basho ” era, described as a phase of “ optimization, improvement of scalability and interoperability of the network.”

The testnet rollout means that Cardano is one step closer to seeing the anticipated update on the mainnet; however, certain conditions must be met. Dean explained it in a tweet.

ADA Price Analysis

ADA/USDT Price Chart

ADA/USDT Price Chart | Source: TradingView 

Cardano’s developer, Adam Dean, announced he is bullish on the Vasil hard fork happening sooner.

IOHK announced that they have started implementing a hard fork on the Cardano blockchain after block production reaches 75%. The developers have already decided that node 1.35 will be the final node version for Cardano’s upgrade.

This has led to the price of ADA shooting up over 3% in just 2 hours, reaching a high of $0.48. In the last 24 hours, ADA prices have been trading strongly against their market value, with a 5% increase since early morning.

Currently, 57% of 1.35.3 nodes are running the Cardano mainnet. The developers have successfully tested the 1.35.3 node and component integration, with major bugs found. There are currently nine minor bugs in the backlog.

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With two more requirements before the Vasil hard fork, including at least 25 exchanges upgrading their nodes to provide 80% of liquidity and top 10 DApps testing against Node 1.35 on the pre-production testnet.

With the recent news that a new upgrade for ADA may happen next month, we could see another ADA price increase soon.

 

Disclaimer: The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR (do your own research)

 

 

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Jim Haastrup is a freelance blockchain and metaverse writer. He helps founders, investors, startups, crypto, and blockchain enthusiasts connect with their audience and win investment through the written word.

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