Cardano Price is Up as IOHK Confirm an Imminent Hard Fork of Vasil

Vasil, the upcoming Cardano hard fork, may happen sooner

 than anticipated because IOHK and its creator Adam Dean are enthusiastic about it. Stake Pool Operators (SPOs) operating the 1.35.2 node now account for 62% of blocks in the previous 12 hours, according to a recent tweet by Adam Dean. A target of 75% block output on the 1.35.2 node had also been confirmed by IOHK in order to deploy the Vasil hard fork on the Cardano mainnet.

As a result, the price of Cardano (ADA) soared by more than 3% in just two hours and more than 5% over the course of the last day. The high and low for the past 24 hours are $0.482 and $0.451, respectively. This month, the ADA price can once more encounter the $0.554 resistance level.

Price of Cardano (ADA) Rises on Expectation of Vasil Hard Fork

Adam Dean, a Cardano engineer, expressed his optimism about the Vasil hard fork happening sooner in a tweet on August 26. The SPOs running the 1.35.3 node are responsible for 63% of the mainnet block generation, according to the 12-hour chart data on PoolTool. After the node's block generation hits 75%, the Vasil hard fork will be implemented on the Cardano mainnet, according to a previous tweet from IOHK. The final node version for the Cardano upgrade will be node 1.35.3, according to developers.

The ADA price increased by almost 3% as a result, reaching a high of $0.48 in just two hours. The ADA price has risen more than 5% over the past 24 hours while trading strongly against the market. In total, 1.35.3 nodes are running the Cardano mainnet at a 57% rate. Major problems were discovered during the developers' successful testing of the 1.35.3 node and component integration. However, the backlog currently contains a total of 9 minor defects.

The top 10 DApps must test against node 1.35.3 on the pre-production testnet in addition to at least 25 exchanges updating the node to provide 80% of liquidity before the Vasil hard fork.

Several exchanges, including Binance, have recently announced updating the Cardano node. Additionally, 4 of the top 10 DApps have acknowledged testing with node 1.35.3.

Cardano's security, scalability, and smart contract performance will all be enhanced by the Vasil hard fork. enabling programmers to create dApps on the Cardano network that are more effective and safe. Given that the scheduled upgrade is probably occuring next month, the ADA price may shortly reach the $0.55 mark once more.

The Upgrade to Cardano's Delay

The most recent delay for the Vasil hard fork occurred at the end of July. A delay in the Vasil hard fork was announced by the IOHK due to problems in node 1.35.0 and further testing to ensure a successful launch.

Charles Hoskinson, the creator of Cardano, also slammed critics who said IOHK hurried to release the 1.35.3 node despite a fault on the 1.35.2.