As all three metrics necessary to launch the awaited Cardano Vasil upgrade have been met, the countdown is now under 24 hours
As Cointelegraph reported, the ambitious Cardano Vasil upgrade is set to take place in less than 24 hours. The Cardano team noted all three “critical mass indicators” needed to start the upgrade have now been met.
A Wednesday tweet by Input Output Hong Kong (IOHK), the company behind Cardano, states that 13 cryptocurrency exchanges representing over 87% of Cardano’s (ADA) liquidity had confirmed their readiness for the hard fork.
Once live, the upgrade will be the blockchain’s most significant event since its Alonzo hard fork took place last September. Whereas Alonzo brought functionality for smart contracts, the upcoming upgrade aims to bring smart contract enhancements. It will also reduce costs and increase network throughput. One of the most significant upgrades would be faster block creation as they can be transmitted without full validation.
Currently, ADA’s price sits at $0.45, down over 3% over 24 hours and over 85% from its $3.09 all-time high last September.