Cardano Vasil Upgrade launched September 22nd

The biggest event in the Cardano, The Vasil upgrade has been launched on September 22nd, but the new capabilities that Vasil brings to the blockchain will only become fully active to developers on September 27th. 

Cardano developer Input Output Hong Kong (IOHK), says that Vasil will enable applications built on Cardano to become “faster and more sophisticated”, promising greater scalability and efficiency for the blockchain. 

Apart from the Vasil upgrade, there is also the activation of the Plutus V2 cost model network, which will bring several benefits to Cardano including the possibility of writing smart contracts with less code while reducing the cost of the transaction fees. 

“New Plutus v2 features and enhancements will enable DApp developers to create novel and exciting experiences, while diffusion pipelining unlocks the potential for greater throughput and network capacity.”, said (IOHK), the company behind Cardano development.

According to Artano, a Cardano-based NFT project which has been testing Plutus v2, there's a 93% decrease in transaction size and a corresponding cost reduction of over 75%.

The hard fork upgrade will increase the network performance bringing faster block validation, better security, and improved smart contract capabilities.

A hard fork occurs when a network's code radically changes and requires the creation of a new and separate version of a blockchain. However, IOHK revealed on Twitter, that Cardano's unique hard fork combinator technology will introduce new features without losing any data from the previous blocks.

The ambitious update was initially scheduled for July, but has been postponed due to bug concerns and an “abundance of caution".

Due to its complexity, the update was named after the late Vasil Stoyanov Dabov, a longtime Cardano community member who passed away in December 2021 from a pulmonary embolism.

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