Market Analysis Report (22 Jun 2022)

Input Output Hong Kong (IOHK), the blockchain engineering firm responsible for Cardano’s research and development, has announced a one-month delay to the launch of the long-awaited Vasil hard fork.

The hard fork is set to bring a “massive performance improvement” according to Charles Hoskinson, Cardano’s founder. The upgrade is a major one that involves four different Cardano Improvement Proposals (CIPs).

IOHK’s head of delivery and project, Nigel Hemsley, noted that the team working on the hard fork is “extremely close to finalizing the core work” although there are still several bugs that need to be worked on.

The Cardano Foundation, a non-profit organization overseeing the development of Cardano, has agreed with Input Output Global to defer sending the Vasil hard fork to Cardano’s testnet from June 20 until June 29.

Once the hard fork is implemented on the testnet, decentralized application and stake pool operators will have four weeks to “carry out any required integration and testing work” before the Vasil hard fork comes to the mainnet.