The hard fork was initially slated for June of this year, but it was postponed twice.
According to Input Output Hong Kong (IOHK), a Cardano-related Research and development business that worked on the upgrade, three critical mass indicators have been met:
The final Vasil node contender creates 75% of mainnet blocks (1.35.3)
Around 25 exchanges were upgraded (representing 80% of ADA liquidity).
TVL has confirmed that the top ten DApps have updated to 1.35.3 on PreProduction and are ready for mainnet.
According to IOHK, MEXC and Bitrue are "ready" for the upgrade, while Binance is "almost there" and Upbit, Coinbase, WhiteBit, BKEX, and HitBTC are "in progress."
Developers have promised more scalability and cheaper fees from the hard fork, which will include the first major upgrade to the Plutus script — the programming language used for smart contracts on the Cardano blockchain. Plutus was introduced in the last upgrade, Alonzo, which took place in September of last year.
"If we've all done our jobs well, we'll wake up on September 22nd and it'll be just another day," Hoskinson stated on his YouTube vlog. Later he added:
"We started with the belief that, over time, we could do what ETH has accomplished, but we also recognized a road map to get there. There is a lot on the horizon, especially in 2023."
The fork is named after Vasil Dabov, a Bulgarian Cardano community member who died in 2021. At the time of writing, Cardano was trading at $0.4621, up 1.32% in the last 24hrs.
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