Breaking: Cardano (ADA) Price Surge As Developers, IOHK Confirms Vasil Hard Fork Sooner Than Expected

Cardano (ADA) values surge as developers IOHK has confirmed that the Vasil Hard Fork will happen sooner than expected and developer Adam Dean is very bullish about it. In a tweet Adam revealed that Stake Pool Operators (SPOs) which runs on the 1.35.3 node now constitute for 63% of blocks in the past 12 hours. Incidentally it is confirmed by IOHK that a target of 75% block production on the 1.35.3 node is required to implement a Vasil Hard Fork on the Cardano Mainnet.

The news was received positively by the investors and Cardano(ADA) values went through the roof and surged 3% in just 2 hours and 5% in the past one day. The one day high and low were$0.48 and $0.45, respectively. The ADA price may touch the $0.55 resistance level again this month.

Cardano (ADA) Price Surge Fueled on Anticipation of Vasil Hard Fork

Cardano (ADA) developer Adam Dean said he is very optimistic that the values of the altcoin will surge after the Vasil hard fork happening. Evaluating the 12-hour chart data on PoolTool, it is revealed that 12-hour SPOs running the 1.35.3 node accounts for 63% of mainnet block production.

As per IOHK, once the block production on the node reaches 75% the Vasil hard fork implementation on the Cardano (ADA) mainnet will happen. Developers have already decided to make the node 1.35.3 as the final node version for the Cardano upgrade.

In total 57% of 1.35.3 nodes are running the Cardano mainnet. Developers have been busy testing the 1.35.3 node and component integration. Major bugs have been identified while successfully testing. A total 9 minor bugs in the backlog have been detected.

Two more benchmarks have to be accomplished before the hard fork is to happen. 25 exchanges must be upgraded at the node to provide 80% of liquidity. Also 10 DApps testing against node 1.35.3 on the pre-production testnet.

Binance and a number of major exchanges have already announced the upgrading of the Cardano Node. 4 out of 10 top DApps have confirmed testing against node 1.35.3.

The Vasil Fork is being undertaken to enable better Cardano’s security, scalability, and smart contract performance. It will also enable the developers to create more efficient and secure dApps on the Cardano network.