Cardano’s co-founder, Charles Hoskinson, posted a video on Twitter (NYSE:TWTR) sharing the news that the Cardano network has entered into the final stages of the Vasil upgrade.
In a video posted to Twitter over the last 12 hours, Charles Hoskinson shared that a proposal was recently initiated and signed for the hard fork commendator, which was then successfully submitted and approved. Hoskinson added that this now means that the Cardano network has entered into the “Vasil era”.
According to Hoskinson, the process to deploy the Vasil upgrade has been initiated and is an automated process that will take approximately 5 days to complete. Seeing that the process was initiated yesterday, the 17th of September, the Vasil upgrades will come into effect the 22nd of this month.
The Cardano co-founder likened the process to a rocket ship, stating that the team will have to wait to see if it is successful or not. He also said that “there is no going back.”
Some of the features that will be introduced to the Cardano network will launch immediately after the transition to the new state has been completed, while others will take around 5 days to come into effect. The Cardano team doesn’t anticipate that there will be any problems.
The crypto market tracking website, CoinMarketCap, shows that the market reacted positively to the announcement as the network’s native token, ADA, is up 2.70% over the last 24 hours. As such, ADA is trading at $0.4874 at the time of writing. However, ADA’s price is still down 5.65% for the week
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Source: Cryptocurrency - investing.com
