What will Cardano Vasil upgrade and launch bring?

Everything in the past is a prologue.

Following the merged hard fork upgrade of Ethereum, Cardano also ushered in its most important upgrade since the Alonzo hard fork last September – the Vasil hard fork.

On September 22, the Cardano blockchain executed its highly anticipated Vasil hard fork. Blockchain firm Input Output Hong Kong (IOHK) announced on Twitter the success of the Cardano mainnet hard fork.

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The Vasil hard fork, named after the late mathematician and Cardano ambassador Vasil St. Dabov, is a backwards-incompatible upgrade on the main network designed to enrich smart contract capabilities, increase chain throughput, and reduce block transfers. Delay and reduce costs. Cardano founder Charles Hoskinson described it as the most difficult update a developer has made since the project launched in 2017.

Cardano Improvement Proposal (CIP) involving Vasil

A big theme of Vasil is optimizing how data is referenced. You will see some community proposals addressing this issue, aiming to reduce the tedium that is currently associated with the platform. The following are some, but not all, CIPs included in the upgrade:

Reference Input (CIP-31) – Previously, developers had to recreate the used output to find the data, as it was stored in the transaction output, meaning it was stored on Cardano’s blockchain. By referencing input, developers can more easily find information, simplifying some application operations.

Embedded Database (CIP-32) – This allows developers to create scripts and append transaction benchmarks to the output, rather than referencing them using their hashes. Like CIP-31, this reduces the number of steps required to view transaction data.

Reference Scripts (CIP-33) – This proposal addresses transaction size and processing speed issues by allowing developers to reference scripts without including their information in every transaction. It also increases platform throughput and reduces transaction costs.

Diffusion Pipelining – This is Vasil’s scalability solution that increases network throughput and capacity. It improves block propagation time, broadcasting new blocks before they are fully validated.

Additionally, the Vasil upgrade brings significant improvements to Cardano’s custom smart contract language, Plutus, including:

  • Increase the block size to allow more on-chain transactions and script runs per block;
  • Increase Plutus’ CPU limit to allow more memory to be dedicated to scripts, allowing them to run more efficiently.

Plutus is Cardano’s native smart contract language. Vasil will provide the second version of the Cardano scripting language, Plutus version (v)2. As Cardano’s base layer, Plutus effectively separates the code that drives smart contracts from on-chain transaction verification, which remains off-chain and runs on the user’s machine. The new Plutus v2 feature will roll out in an era after Thursday’s hard fork, which is expected to happen on September 27. This also means that the Vasil hard fork upgrade is designed to allow the Cardano blockchain to do more and better.

According to iohk.zendesk data, among the top 12 exchanges in terms of liquidity, the integration status of Coinbase is still in progress. However, a tweet from Coinbase has already hinted that it will support the fork, saying that ADA transactions will be suspended for maintenance on the “Cardano Vasil hard fork.” Additionally, any ADA token holder using an exchange or wallet should not be adversely affected by the Vasil hard fork and should not have any concerns about their holdings. However, there may still be some delays or service interruptions (such as withdrawals of funds) while the exchange is working on integration. 

Vasil comes after months of delays, originally slated for a June launch day, which has been delayed twice due to issues on the testnet caused by compatibility issues in previous node versions.

Following the Vasil upgrade, Cardano continued to develop its layer 2 scaling solution, the Hydra header protocol, which handles transactions outside of the Cardano blockchain while still using it as a security and settlement layer.

Affected by the positive news of the upgrade, ADA has risen by 4.3% in the last 24 hours, reaching as high as $0.477, and the current price is $0.46.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/what-will-cardano-vasil-upgrade-and-launch-bring/
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