Cardano’s Vasil fork update is expected to take place on September 22nd - only a week after The Merge, which transformed the Ethereum network into a Proof-of-Stake platform.
What can ADA users expect from the upcoming Vasil fork and why do experts pinpoint the significant importance of the “hardest update” one of the largest Proof-of-Stake platforms has experienced yet?
Cardano Vasil hard fork explained
Cardano (ADA)’s Vasil hard fork is tackling problems related to the increasingly growing dApps ecosystem. The update, first announced in early 2022 and named after the late Bulgarian mathematician and Cardano community member Vasil Dabov, comes alongside the growing popularity of ADA: the cryptocurrency is currently in the top 10 most popular tokens according to market capitalization.
The Vasil hard fork update is aimed at boosting Cardano’s speed, increasing the performance, scalability, and security of the network, while ensuring reduced prices for participants at the same time.
According to the Cardano team’s official statement, the top dApps built on the blockchain have already been tested by the new Vasil nodes. Over 98% of the current mainnet blocks are now created by using the upgraded version, therefore the network is considered ready for the upcoming hard fork implementation.
What is a hard fork?
A hard fork is an activity describing the phenomenon of a particular blockchain being split into chains, resulting in two independent versions of the same network. Hard forks are quite common in the blockchain sphere, as many are currently expecting ETHPOW hard fork to be released as a consequence of the Merge upgrade.
What to expect from Vasil hard fork?
The incentives included in the Cardano Improvement Proposals (CIPs) are designed specifically to make the working mechanisms of the blockchain stronger, more resource-efficient and robust by minimizing the possible effects of the system’s current vulnerabilities.
CIP-31: reference inputs
The CIP-31 proposal is set to introduce a new implementation of inputs - the so-called reference inputs. As the name suggests, this kind of mechanism will allow for accessing information that’s stored on the network without having to actually “spend” the transaction output (UTXO).
For instance, users will be able to check the state of an application built on the Cardano network with no need to consume the output.
CIP-32: incline datums
The incline datums proposal is designed to provide a new type of data unit - incline datums - with the ability to be attached to outputs (instead of hashes - which are being attached in the older version). The CIP-32 proposal will establish communication between the spending and creating parties.
In practice, the introduction of incline datums will lead to optimization of operating logistics by minimizing the volume of data users would have to check before interacting with the Cardano blockchain.
CIP-32: incline datums
The incline datums proposal is designed to provide a new type of data unit - incline datums - with the ability to be attached to outputs (instead of hashes - which are being attached in the older version). The CIP-32 proposal will establish communication between the spending and creating parties.
In practice, the introduction of incline datums will lead to optimization of operating logistics by minimizing the volume of data users would have to check before interacting with the Cardano blockchain.
CIP-33: reference scripts
The CIP-33 proposal is intertwined with the previous two - its main goal is to allow participants to attach reference scripts to transactional outputs. The proposal directly concerns Plutus scripts (the scripting language of Cardano). Each time the script is being used, “individual scripts” are authorized in order to save up on time and size limits.
CIP-40: collateral outputs
The collateral outputs proposal introduces a new type of transactional outputs. Once implemented, the CIP-40 incentive will ensure that DDoS protection is performed in a more inclusive way.
What is Cardano (ADA)?
Introduced in 2015, Cardano was designed to improve the services offered by Ethereum, i.e. faster processing speed and lower costs. When the initial coin offering (ICO) took place, almost all buyers were of Japanese origin; however, nowadays Cardano has established its spot among other high-end blockchain projects.
The platform combines distributed ledger technology and smart contract infrastructure, which makes Cardano an ideal network for building powerful decentralized applications.
Cardano utilizes its own native token ADA when paying for various fees. ADA tokens are used for staking in order to verify transactions and earn additional income. ADA holders can participate in governance, whilst developers often utilize ADA to power smart contracts.
Run Cardano (ADA) nodes with GetBlock
Accessing Cardano’s ecosystem is easy with GetBlock - a blockchain-as-a-service provider for over 40 leading chains. GetBlock’s innovative infrastructure allows for near-instant access to ADA blockchain nodes, which are then used for building smart contracts, dApps, and other web3-based products. What’s more, running nodes with a node provider helps to save massive amounts of time and money. There’s no need to learn programming languages and overpay for node maintenance.
GetBlock’s services include shared and dedicated nodes for Cardano. Both of these options are available at a fair market price. Besides, they come with customizable specifications, such as server location, height, connection speed, API interface, access to archive nodes, etc.
Shared nodes for ADA are often selected by web3 startups, as they give access to peer-shared node infrastructure; whereas Cardano dedicated nodes are privately designed according to individual clients’ requirements.
FAQ
What is Vasil hard fork?
Vasil hard fork is the upcoming update of Cardano's network. Vasil is part of the third development cycle.
How fast are Cardano transactions?
Cardano is a Proof-of-Stake platform that can handle up to 250 TPS.
What is the main purpose of Vasil hard fork?
With the Vasil hard fork update, Cardano is aiming to increase the network’s scalability, therefore users could expect a better experience in the web3 development department.
When is Vasil hard fork set to go live?
Cardano is implementing the new Vasil hard fork update on September 22nd. The upgrade is expected to be completed in 5 days after its launch.
Final thoughts
The implementation of the Vasil hard fork could make the Cardano blockchain stronger, say analysts, backed up in a statement by the Input-Output Global (IOG) founder Charles Hoskinson:
Vasil is in the Air https://t.co/usNB98ZMsZ
September 18, 2022
In conclusion, Cardano’s Vasil hard fork is a major effort at improving scalability and expanding the overall utility of the network, as well as boosting the quality of the web3 developer experience on the ADA platform.
