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July fork: Successfully launched Cardano Vasil upgrade on testnet

With the Cardano testnet hard fork completed, all that remains is the mainnet fork, which should take place in about four weeks or when the developers have had enough time to prepare their tools for the upgrade.

The much-anticipated Vasil hard fork has been completed on the Cardano testnet, taking it another important step towards becoming a reality on the mainnet and promising widespread performance upgrades.

Project developers, stake pool operators (SPOs) and exchanges are now encouraged to deploy their work on the testnet to ensure the integration runs smoothly as the mainnet is subject to Vasil processing within approximately four weeks.

Once completed on the mainnet, the Vasil hard fork will enable faster block generation and greater scalability for decentralized applications (dapps) running on Cardano. Input Output HK (IOHK), the organization that makes Cardano, said in a July 3 tweet that in addition to the performance upgrade,
developers will benefit from “much improved scripting and performance” and lower costs.

Vasil will also enable interoperability between Cardano (ADA) sidechains, one of the key features the developers plan to roll out in the current Basho phase of blockchain development. Basho is Cardano’s fourth phase of development focused on scaling and will be followed by the Voltaire phase, where governance will be the primary focus.

IOHK also noted that there will be no proposed mainnet hard fork until “ecosystem partners feel comfortable and ready,” but that is expected in about four weeks.

The previous stage, Goguen, saw the launch of smart contract capabilities on Cardano, which decentralized finance (DeFi) developers took advantage of by launching dozens of exchanges. dapp and the DeFi protocol according to the Cardano Cube ecosystem tracker.

Cardano’s flagship dapp with $49.7 million in total locked value (TVL) is now the WingRiders decentralized exchange (DEX), according to DeFi data compiler Llama.

According to CoinGecko, the testnet hard fork didn’t do much as ADA only gained 0.1% in the past 24 hours to $0.45.