While The Merge is expected to take place in just over ten days’ time, Cardano’s hard fork called Vasil now has a scheduled date. The highly anticipated Cardano fork will take place on September 22, or roughly nine days after Ethereum transitions from proof-of-work (PoW) to proof-of-stake (PoS).
Cardano’s development team disclosed a hardened date for the upcoming Cardano (ADA) hard fork called Vasil, following Input-Output Global (IOG) founder Charles Hoskinson explaining it would happen in September during a live stream on Twitter last week.
On Twitter, IOG’s official social media account told the public that the “Vasil upgrade date [was] confirmed.” The developers noted that the codebase merge will follow “successful completion [and] extensive testing of all core components.”
IOG further explained that the fork would be codified into the mainnet codebase on September 22. IOG continued by adding:
Vasil is the most significant Cardano upgrade to date, bringing increased network capacity and lower-cost transactions. The upgrade will also bring enhancements to Plutus to enable devs to create more powerful and efficient blockchain-based applications.
IOG founder Charles Hoskinson also discussed the Vasil hard fork date in a live stream on Twitter called “Vasil is Coming September 22nd, 2022.” The hard fork’s name Vasil comes from a Bulgarian Cardano community member and mathematician, Vasil Dabov, who recently passed away.
During the live stream, Hoskinson noted that it was amazing that the randomly chosen fork date falls on the independence day of Bulgaria. Four Cardano Improvement Proposals (CIPs) are being added to Cardano’s (ADA) codebase.
During the implementation, Vasil will dock CIP-31 (Reference Inputs), CIP-32 (Inline Datums), CIP-33 (Reference Scripts), and CIP-40 (Collateral Outputs). It has been said by IOG developers last May that CIP-31’s reference scripts will reduce ADA’s transaction costs.
At the time of writing following the announcement, cardano (ADA) has increased 2.3% against the USD in 24 hours. ADA has risen close to 10% during the past seven days, and presently ADA is the eighth largest crypto market capitalization with a $16 billion market cap.
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