Cardano IOG Says It Is Close To Securing All Set Metrics To Activate The Vasil Upgrade, This Week


As part of the midweek updates on the Vasil hard fork upgrade, Input Output Global (IOG), the development team backing the Cardano Network, disclosed that it is close to achieving all three set metrics to judge the community’s preparedness for the upgrade. All this was made known in a tweet on Wednesday.  

The team posted: “This week, we’re well on our way to hitting our indicators. Over 80% of SPOs have upgraded and more than 70% of the top DApps we’re tracking have confirmed successful pre-production testing”.

Read also: Binance.US Has Launched Cardano Staking (ADA)

IOG Team Working Tirelessly

Additionally, IOG notes that exchanges are also working on improving their nodes. About the team, the Cardano Foundation said they are in daily contact with these exchanges in other to provide support. Two more platforms confirmed the readiness for the upgrade on Wednesday, with 27 others in the process, 5 of which it says are at the top for ADA liquidity. 

IOG is tracking three metrics; the percentage of mainnet blocks produced by the final node version, which the team set at 75%, the number of upgraded exchanges, which the team set at 25 to represent about 80% of liquidity, and TVL’s upgrade of the top 10 decentralised application (Dapps)  on the network. However, an announcement was made on Monday that the IOG team had met the number one requirement. 

Several users expressed excitement in response to IOG’s latest updates, while others questioned the reason why Coinbase has yet to commence the process of updating the nodes. 

Related article: Binance Welcomes Cardano Node Update As Vasil Hard Fork Launch Approaches

There has been long-term anticipation of the Vasil hard fork due to its first stated launch scheduled for June, but it has encountered several obstacles. Remarkably, at the end of July, a delay materialised after bugs in node 1.35.0 were discovered that resulted in the creation of three separate software scripts, with IOG eventually deciding to proceed with version 1.35.3 for the upgrade. 

However, Pipelining promises to improve the network scalability and throughput, while changes to the Plutus script will improve decentralised applications (Dapps) and smart contracts capabilities. 

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