Sunday, September 25, 2022

Out of sheer euphoria about the upcoming Ethereum merge, Cardano is almost forgotten. Now Hoskinson thinks the Hard Fork Vasil could take place as early as September.

Not only in terms of course development, Vitalik Buterin was able to shake off his ex-colleague Hoskinson from Cardano, but also with the development progress of his blockchain.

While Ethereum will merge between September 15 and 16, Cardano is having difficulties on the way to the new ultra-fast blockchain. But now there finally seems to be a little hope. Hoskinson announces in a Twitter news update that the development is already well advanced:

“We are currently conducting extensive tests, and things are progressing rapidly. It looks like we’ll get the upgrade through in September.”

Cardano Hard Fork in September: The To-Do List

It’s a rocky road to the most important upgrade in ADA history: just last week, a developer warned of a critical bug in the test network. He asked the Cardano founder Hoskinson in an urgent appeal to provide better tools for the developers.

Then, immediately, the turnaround!

According to IOHK, the company behind Cardano, three critical points must be met in order to Hard Fork will be available in September.

The most important point is that the Stake Pool Operators (SPO) are switching to the new upgrade 1.35.3. SPOs ensure the security of the blockchain by staking Cardano. According to a Twitter news post from the IOHK, 75 percent of the SPOs are already on the new upgrade.

In addition, Hoskinson stressed on Twitter that “the exchanges play an incredibly important role. 30-40 Percent of the trading volume takes place on Binance.”

According to the founder’s statements, it’s the big exchanges, such as Binance, Kraken, Crypto.com or Kucoin, which must first implement the upgrade. Only then do the small exchanges feel the pressure and are therefore forced to participate.

The mentioned exchanges are currently in progress, switch to the upgrade.

As a third point, the dApps developed on ADA in recent years come into play. As soon as a large part of this integrates version 1.35.3, nothing stands in the way of Vasil.

“Please keep in mind that it takes time to develop software and proper tests are important to perform the upgrade safely”,

it is said on Cardano Twitter. Vasil seems to be at the door after 2 of the 3 factors are fulfilled.

ADA surprises with more news

Almost at the same time, Cardano announces that it has entered into a partnership with the prestigious Stanford University: ADA is donating around 4.5 million US dollars for a new blockchain hub.

Previously, $500,000 had already gone to Stanford for blockchain research – only one out of four universities supported it. Edinburgh, Wyoming, Athens and Tokyo are also on the list of Cardano-sponsored universities.

About Hoskinson:

“With the research center, blockchain research can move forward faster. Due to the new achievements, the center will give our sector more validity, which we could not always afford.”

He himself made headlines last year when he donated $ 20 million to Carnegie Mellin University to open a Hoskinson Center for Mathematics.

The cryptocurrency’s price is currently at $0.45 and is thus only 0.03 US dollars away from the annual low point.

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