At Cardano (ADA), the Vasil update, which was allied with high hopes, has dominated the discussion this summer. However, after several postponements of the launch date for Vasil, it now seems to be entering the final spurt.
Cardano (ADA) is lagging behind ambitious plans in 2022, the big update Vasil was originally supposed to go live already on June 29. But the deadline could not be met and meanwhile the forecast for Vasil at Cardano is “in a few weeks”. Now Input Output, as the crypto company behind ADA, is getting a bit more specific on Twitter. There is information on how far the progress of preparations for Vasil is in the three areas that were given:
1. a good 40 percent of the blocks in Cardano’s blockchain are currently already generated via the Node software in version 1.35.3. The target here is 75 percent before Vasil is released. The world’s largest crypto exchange Binance now also wants to update the node software for Cardano to version 1.35.3, then the mark of 75 percent is probably within reach.
2. Input Output writes that minor work still needs to be done on the Cardano wallet to make it compatible with Vasil. Then crypto exchanges could also complete their preparations for ADA with Vasil. To unlock Vasil, Cardano wants to know that about 25 major crypto exchanges support the update, mapping at least 80 percent of ADA’s liquidity.
3. third condition for Vasil remains, according to Input Output, that the top 10 Cardano DApps by revenue rely on Vasil and have tested out the Node software in version 1.35.3. Here, according to the new information, 4 confirmations have already been received.
Input Output further announces that it will complete a web page on which the status of preparations for Vasil will be continuously documented. The unusual transparency offensive at Cardano is probably also related to the fact that there was a lot of excitement about an allegedly “catastrophically broken” test net for Vasil. Here the Node software was addressed in the earlier version 1.35.2. Skeptics already rumored that a launch date for ADA with Vasil in 2022 would be impossible to keep.
Conclusion: Can Cardano take off with update Vasil?
The noticeable nervousness at Cardano in connection with Update Vasil has a solid background: The last major update, Alonzo, was almost a year ago – and it could not fulfill the expectations of making the growth segment DeFi a broad field of application for ADA. Vasil is now supposed to help here, also in combination with another ADA update called Hydra scheduled for 2022. Critics already speak of Cardano as a “deceptive package” in view of repeated unfulfilled promises. It is up to Input Output and the Cardano community to disprove the skeptics and, with successful further development of the ecosystem, to give positive impetus to the ADA price curve again.