Kelvin Hammon, Head Technician at Cardano, has announced that the introduction date of the Vasil hard fork has changed. He said they still have a few more weeks to ensure the hard fork is without glitches before launching.
Cardano Postponed Its Vasil Upgrade For A Few Weeks
The Vasil hard fork is the most recent and sophisticated upgrade designed by Cardano developers to improve the network’s scalability. The network had earlier announced June 29th as its launch date; however, they have postponed it twice after that date failed.
Javier Franco, a software manager at Cardano, relayed that the developer team is still working meticulously on the project. He said regardless of how long it takes; they are determined to present a perfectly functional upgrade without glitches.
Franco added that the upgrade is the most important of all Cardano’s hard forks; hence, they cannot afford to do it wrongly. He continued that there are several moving parts, components, and other things to ensure they are in place before they launch it.
While speaking in an interview on Thursday, Kevin Hammon announced the network’s decision to postpone the upgrade. He said they are still testing the much anticipated hard fork. They needed more time to ensure it worked smoothly.
Furthermore, he added that they designed the Vasil upgrade to solve Cardano’s scalability issues. Hence, they require more time to write their highly sophisticated technical codes correctly.
Cardano Continues To Perform Well Despite Vasil Delay
Cardano currently has a market cap of $17.5B, which makes it one of the top 10 biggest cryptocurrencies in the world. Also, it is one of the oldest and most populous layer1 solution providers.
However, due to its poor scalability prowess, it could not host any Defi network on its smart contract. This is the same for other crypto networks like Cardano.
To solve the issue and improve its network’s standard, Cardano decided to design the Vasil upgrade. But as the network announced, the upgrade would not be out till further notice.
Interestingly, the price of Cardano’s token, ADA, was not affected by the negative news. According to the price chart, it has recently spiked up by 5.7%, recording a price of $0.52 as it continues to recover from the massive loss in June.
According to a Defi news source, Cardano has around $136.66 million worth of smart contract TVL. The Ethereum network has about $57.45 billion, which makes it the most prominent smart contract network. Solana rides very close to Ethereum as it holds about $2.70 billion.