Input Output Hong Kong (IOHK), the blockchain company behind the Cardano network, says the highly anticipated Vasil hard fork is closer than ever. According to IOHK, the most important condition for the hard fork is that 75 percent of the nodes run the latest software. At the time of writing, at least 42 percent of the nodes are on board.
Stake Pool Operators
On Thursday, IOHK reported that the Stake Pool Operaters (SPOs) running the latest software represent approximately 42 percent of the network. That is already more than half of the 75 percent needed for the hard fork. As an extra condition, IOHK wants around 25 exchanges and the top 10 decentralized applications on the network to run the 1.35.3 software.
Binance is already participating and has equipped its Cardano nodes with the latest software. IOHK is in talks with about 25 scholarships to achieve the same. These exchanges together are responsible for about 80 percent of the liquidity in the token. Of the 10 largest decentralized applications, the new software is extensively tested by at least 4 applications.
No new bugs
Furthermore, IOHK is able to share that no new bugs have been found, but that there are 9 non-critical bugs in the software that need a solution. The new Vasil upgrade of the network reduces the size of transactions, which makes it possible to increase the transaction capacity of the blockchain. The hard fork was originally scheduled for June 29, but Vasil, like Ethereum 2.0, has been plagued with delays.
Charles Hoskinson, the co-founder of Cardano, recently responded to criticism that the update was coming too soon. As a solution, he even suggested delaying the launch for a few months, despite the code having been tested several times. However, the developers of decentralized applications on the platform do not like this, because they have been waiting so long for the Vasil hard fork.