Cardano's Vasil Upgrade In View As ADA Aims For The $1 Price Zone

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The development team at Cardano has deployed the final node version on the Vasil development net together with a new smart contract pre-production environment as the world’s largest proof-of-stake blockchain gets ready for its most significant upgrade.

According to a statement released by InputOutput Global (IOG) on Friday, if everything works out as planned, the new node version -1.35.3- could usher in the Vasil upgrade. 

“As long as we do not encounter any significant new issues, this will be the version with which we’ll trigger the Vasil upgrade on mainnet.”

The new pre-production environment was created to provide a clean and more agile environment to enable Stake Pool Operators (SPOs), exchanges, and developers to test against the latest node version. 

According to Github data, the latest node fixes critical issues with the older versions of the nodes as well as provides some CLI enhancements and full Vasil era capabilities.

InputOutput Global (IOG) points out that three critical indicators are essential in determining when the mainnet upgrade will be triggered. 

The number one indicator is that the final Vasil node candidate has to create 75% of mainnet blocks. 

Secondly, about 25 crypto exchanges (representing 80% liquidity) have to upgrade to the node. 

Lastly, key mainnet decentralized applications (dApps), including the top ten by Total Volume Locked (TVL), must confirm their upgrades to the 1.35.3 on Pre-Production and Mainnet.

This latest version could mark the end of a series of tests that began on July 3 when the IOG team handworked the Cardano testnet to Vasil Functionality before the upgrade.

Although ADA is yet to show any tangible reaction to the upgrade, Cardano proponents are still encouraged by the events. As of writing, the native token’s trading volume displays recovery signs. ADA is currently trading at $0.57 after surging 10% in the week, a bullish momentum that could propel it to the $1 price zone.

Written by
Chiagoziem Bede Ikwueze

The development team at Cardano has deployed the final node version on the Vasil development net together with a new smart contract pre-production environment as the world’s largest proof-of-stake blockchain gets ready for its most significant upgrade.

According to a statement released by InputOutput Global (IOG) on Friday, if everything works out as planned, the new node version -1.35.3- could usher in the Vasil upgrade. 

“As long as we do not encounter any significant new issues, this will be the version with which we’ll trigger the Vasil upgrade on mainnet.”

The new pre-production environment was created to provide a clean and more agile environment to enable Stake Pool Operators (SPOs), exchanges, and developers to test against the latest node version. 

According to Github data, the latest node fixes critical issues with the older versions of the nodes as well as provides some CLI enhancements and full Vasil era capabilities.

InputOutput Global (IOG) points out that three critical indicators are essential in determining when the mainnet upgrade will be triggered. 

The number one indicator is that the final Vasil node candidate has to create 75% of mainnet blocks. 

Secondly, about 25 crypto exchanges (representing 80% liquidity) have to upgrade to the node. 

Lastly, key mainnet decentralized applications (dApps), including the top ten by Total Volume Locked (TVL), must confirm their upgrades to the 1.35.3 on Pre-Production and Mainnet.

This latest version could mark the end of a series of tests that began on July 3 when the IOG team handworked the Cardano testnet to Vasil Functionality before the upgrade.

Although ADA is yet to show any tangible reaction to the upgrade, Cardano proponents are still encouraged by the events. As of writing, the native token’s trading volume displays recovery signs. ADA is currently trading at $0.57 after surging 10% in the week, a bullish momentum that could propel it to the $1 price zone.

Written by
Chiagoziem Bede Ikwueze