The Alonzo upgrade brought a host of new possibilities for decentralized applications (DApps), decentralized exchanges (DEXs), and decentralized finance (DeFi) solutions development. Building on previous upgrades (Shelley, Allegra, and Mary), Alonzo introduced a multi-functional environment enabling smart contract development using Plutus scripts along with native tokens introduced in Mary. Now it is time to scale and optimize the ledger to facilitate efficient development for a range of new applications.
Vasil (named after a much loved and respected Cardano community member, the late Vasil St Dabov) is Cardano’s next major upgrade that will be implemented using Cardano’s HFC approach. The goal is to enhance the network’s performance by increasing throughput and reducing latency in block transmission. Vasil is the first step in gradual performance enhancements for Cardano throughout 2022. It is a significant protocol change that will enable Cardano to support a myriad applications with a large user base, processing volumes, and sophisticated scripts.
More specifically, through a hard fork combinator event, the release introduces reference inputs, inline datums, and reference scripts through Plutus CIPs. These changes allow for the network to process a larger number of transactions without affecting network performance, and also to boost transaction throughput via additional enhancements to Plutus transaction properties. Vasil will also introduce cryptographic primitives optimization to decrease storage requirements and boost node synchronization times, script collateral adjustments, and asynchronous validation – all improving the consistency of block propagation times. Also coming in June is block diffusion pipelining to add additional network capacity, which requires no ledger changes so technically is not part of the hard fork release, while being closely tied.
The HFC event is targeted to take place in Epoch 347 on June 29 2022 at 21:44 UTC.
As always, the Cardano Foundation exchange integration team will support exchanges throughout this upgrade. Ada holders using exchanges or wallets will not be affected by the Vasil hard fork, and should not have any concerns about their holdings. Certain delays or service disruptions are still possible while exchanges are undergoing integration work.
Users will be able to track the status of the preferred exchange, using the curated list of links below. Once the integrations start, the list will be constantly updated.
In case of any additional questions, users can contact their chosen exchange as they will be able to provide the very latest technical status. In case of experiencing any access issues around Vasil upgrade, users are encouraged to first contact and log a support ticket with their exchange. It is also recommended to follow exchanges’ announcements on their Twitter – often status updates will be communicated.
Users can also log a support request using the "Submit a request" button at the top menu bar.
Thanks as ever for your support!
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