Cardano's Hoskinson Shows Faith In Vasil Upgrade As ADA Remains Rangebound, Breakout Incoming?

Charles Hoskinson, Cardano’s co-founder, has expressed confidence in the Vasil hard fork upgrade going live soon, stating that he doesn’t anticipate any further delays.

Speaking on Monday in an update video to the Cardano community, the software engineer noted that most stress-tested components were in their final stages. He went on to state that he was confident that version 1.35.3, one of the software stemming from three bugs discovered earlier, would likely make it to the hard fork.

“The good news is that the set of things that could go wrong has gotten so small, and now we’re kind of in the final stages of testing in that respect,” said Hoskinson. “So unless anything new is discovered, I don’t anticipate that we’ll have any further delays.”

Hoskinson, the founder of Cardano’s developer arm, Input Output Global (IOG), stated that Vasil was the most complicated upgrade to Cardano and its history. This was because it includes both changes to the programming language, Plutus, as well as changes to the consensus protocol and a litany of other things.

“The problem is that every time something is discovered, you have to fix it, but then you have to verify the fix and go back to the entire testing pipeline…so this is what causes release delays,” Hoskinson added. According to him, the failure to detect and solve a bug issue- no matter how small- could expose the network to future vulnerabilities and lead to the production of a fork.

Last week the Vasil upgrade was postponed yet again “for a few more weeks” despite earlier being slated for June. In a monthly update call, IOG’s technical manager Kevin Hammond stated that they needed some more time to run tests on the network to ensure a smooth upgrade. 

“All users have to be ready to progress through the hard fork to make sure the smooth process, both for them and end users of the Cardano blockchain,” Hammond had said at the time.

That said, despite the Vasil upgrade being highly anticipated for months, its light effect on ADA, Cardano’s native coin remains to be seen. 

After plunging by over 80%, ADA has remained trapped in a range, pivoting between $0.55 and $0.40. The cryptocurrency is trading at $0.4967 after a 2.82% drop in the past 24 hours. It has, however, grown 8.75% in the last seven days based on data from CoinGecko.

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