Cardano will undergo a new hard fork soon as its founder Charles Hoskinson revealed in a video. New hard fork will be named after Vasil and will be much larger than previous forks.
The name Vasil was chosen in honor of Vasil Dabov, Hoskinson’s friend and former Cardano ambassador. Dabov passed away in December 2021.
Hoskinson stated that the hard fork will take place in June, but did not specify a date. He also stated that the update will bring a “massive performance improvement for Cardano”.
Preparing for Consensus 2022
At the beginning of the video, Hoskinson mentioned that he is gearing up for the upcoming Consensus 2022, which will take place in Texas from June 9-12. The conference is seen by him as an opportunity to open up Cardano to business.
“We’re there, and we’re trying to get a lot of people to come and set up booths and talk. Obviously, we will also host a Cardano-specific event at Consensus,” said
As such, it is likely that the update will be released sometime close to the event.
What changes can the hard fork Vasil bring?
As explained by Hoskinson, Vasil will introduce several scaling improvements to Cardano. In this sense, the novelties include “pipelining, new Plutus CIPs, disk storage, among others.
The novelties aim to make Cardano more secure and ready to improve support for other applications, as the founder explains.
“In combination with parameter adjustments, these features will improve Cardano’s throughput and optimize the system to accommodate a growing range of decentralized finance (DeFi) applications, smart contracts and DEXs.”
In addition to these changes, the Cardano team is working to bring new products and features to its users, such as a DApp store, a new lightweight wallet, and bridges that allow you to move assets from the main chain to sidechains.
These sidechains will allow the creation of DEX where users will be able to exchange their ADAs for BTC and vice versa. The exchanges will work through incorruptible smart contracts, thus preventing the possibility of fraud.
In other words, Cardano intends to be more secure and fail-safe, especially hacker attacks.
One of the biggest complaints from users is the delay in Cardano updates. In this line of thinking, the network would have lagged behind and, therefore, lost ground to its competitors. But Hoskinson also spoke about Cardano’s update schedule.
According to him, the team has hundreds of engineers working on “insanely aggressive” schedules. In addition, the founder of Cardano countered criticism of an alleged delay in updates.
“If you listen to the cryptocurrency media and critics, they seem to believe that Cardano does not exist. It’s all just a well-crafted stunt and nothing has been built and accomplished. They are wrong,” he said.
To illustrate his point, Hoskinson noted that a team of developers from Cardano will meet in Barcelona on the 17th and 18th of May. On the agenda of the meeting is the discussion about smart contracts and detailing the process of accreditation of the different wallets in Vasil.