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Cardano (ADA) parent company Input Output said a Vasil hard fork is coming soon and developers are working to bring it to the mainnet.
With the IOG team @Cardano Stiftung and wider @Cardano The technical community will continue to work together to #vasil upgrade to #Cardano mainnet.
Here is the current development status on August 25
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input output (@InputOutputHK) August 25, 2022
According to IOHK, 40% of stake pool operators are currently running version 1.35.3 nodes. This indicates that the network is in the middle of an upgrade as the hard fork threshold is 75%.
The company added that there are no critical bugs or hard fork blockers left, only minor Sev4 or Sev5 bugs remain in the backlog.
In the meantime, the developers are still working on the exchange integration process. Before this happens, you will need to update your Cardano wallet configuration and set up Nix docker.
Given the exchange’s importance to the ecosystem, IOHK has said it will not proceed with the upgrade until it is on a platform that retains 80% of its liquidity.
Exchange: Before the exchange completes everything needed for the integration, we do the last little thing (configure cardano wallet/set up Nix docker). We will have more news on this in the next few business days. 80% Liquidity Upgrade Goal
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input output (@InputOutputHK) August 25, 2022
Binance also announced that they are updating their Cardano node.
So far, 4 out of the top 10 decentralized applications on the network by TVL are testing the latest node version.
IOHK has announced the launch of a new devnet Yolo Net where SPO can perform further tests.
Vasil’s delay in upgrading caused problems within the Cardano community, forcing Charles Hoskinson to deny the existence of a “culture of silence” within the development team.
Cardano is the highest ranked crypto brand in the world. Top Brand Intimacy 2022 report.
The crypto ecosystem ranked 26th with a quotient score of 52.6.
Bitcoin (BTC) ranks 2nd among cryptocurrency brands and 30th overall. Polkadot (DOT) ranks 3rd and 111th overall, while Ethereum (ETH) ranks 4th among cryptocurrency brands and 120th overall.
The Brand Intimacy Report uses artificial intelligence to explore how consumers connect with brands.
Meanwhile, despite the delay of the Vasil hard fork, Cardano developers continue to develop the ecosystem.
According to available information, The Hydra Layer 2 scaling solution released version 0.7.0 earlier this week.
2/Hydra is a family of L2 scaling solutions built on Cardano using state channels.
Participants will be able to transact off-chain at low fees and fast using rules and smart contracts similar to L1, and settle with it.
They released version 0.7.0 this week https://t.co/CERyk4FyNc
ADA Whale (@cardano_whale) August 25, 2022
Additionally, the developers of Flint Wallet are working to release a faster version and Typhon Wallet now features instant transactions.
Apart from that, there are several other developments underway on the network to improve the user experience while increasing security.
