The Vasil hard fork, a long-awaited upgrade to the Cardano blockchain, has finished its first stage early on Friday morning, according to the official Twitter feed of Cardano operator Input Output Global Hong Kong.
According to Input Output Global in a Twitter thread, Vasil will make the Cardano network more efficient and cost-effective while also enhancing its scalability.
All nodes or users must update to the most recent version of the protocol software in order to participate in a hard fork, which is a permanent modification to a blockchain system. According to Input Output, the Vasil hard fork would introduce new Vasil features to the network without erasing any data already present on the previous blockchain.
Cardano had earlier in the year repeatedly postponed the upgrade, citing issues and a “abundance of caution.”
Cardano’s smart contract platform Plutus is set to reach a “pre-production environment” on Saturday and turn fully operational on the chain on September 27 as part of the Vasil update.
According to Input Output, new Plutus V2 features and improvements will aid dApp developers in building stronger and more effective blockchain-based applications for the network.
In Friday morning trading in Asia, the price of Cardano’s ADA coin increased by 5.2% over the previous day, wiping out all losses it had sustained over the previous seven days.