Will ADA Price Hit $1 With Cardano Hard Fork Upgrade Coming in September?

Cardano News

The cardanoCardano News information svg%3E cardano Blockchain Network svg%3E svg%3E svg%3E svg%3E Followers : 0 View profile developers are working hard on the Vasil hard fork update.

Meanwhile, Cardano’s founder, charles hoskinson Cardano News information svg%3E charles hoskinson ceo at IOG Charles Hoskinson is an enthusiastic entrepreneur and one of the richest software developers across the globe. His creation Ethereum is touching sky heights in the crypto market. Charles resides in America and belongs to a doctor’s family but decided to focus on finance over medicine due to his interest in the emerging field of crypto from the very start. Charles was regarded as the 40 Most Influential by Yahoo Finance in 2021.
 
Began his career in 2013 as a business consultant but dropped his job and got involved in the crypto space whilst starting a project called Bitcoin education. Later, Hoskinson joined the Ethereum founding team as one of five original founders with Vitalik Buterin who held the position of chief executive at Ethereum. In 2014, Hoskinson and former Ethereum colleague Jeremy Wood formed Input Output Hong Kong(IOHK), an engineering and research company that builds cryptocurrencies and blockchains.
 
Hoskinson along with IOHK sponsored research labs focusing on blockchain technology at the University of Edinburgh and the Tokyo Institute of Technology, in 2017. 
[email protected] EntrepreneurInvestor svg%3E svg%3E svg%3E Followers : 0 View profile
, has given a hint about the date of the upgradation of the Vasil Hard Fork which is most likely to happen in September if everything goes according to plan. 

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As per the reports, IOHK has said that no serious bugs or hard fork blockers were found, and only minor bugs in Sev4 or Sev5 remain in the backlog.

Cardano News Get, Set, Test, Go! 

Charles Hoskinson, in a video broadcasted on August 26, said that he anticipated the upgradation of the Vasil Hard Fork to take place in September. 

Working with the Cardano Community to come to a consensus for the date, IOHK will team up with Stake Pool Operators (SPO) for getting the updates from their side also. 

Charles recently refuted claims that Cardano’s Testnet is catastrophically broken which implied that they will be finally moving forward with the Vasil Hard Fork. With developers testing things against the 1.35.3 node, there are no major bugs other than in the backlog, which are also minor ones. 

Things are moving along very quickly extensive testing is still being done by both the community and still by us and a lot of integration work is happening behind the scenes so all of that infrastructure is looking good.”

As per the reports, the team is integrating with the community testings and will soon come to a consensus on the final date after taking into account SPOs preparations too.

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Also, yesterday, Cardano developer Adam Dean confirmed that the Vasil hard fork could come much sooner than expected. 

Exchanges To Be Integrated

As developers are still working on the integration process for exchanges, Cardano wallet configurations and the Nix docker setup is to be done before that. 

Giving importance to exchanges for the ecosystem, IOHK stated that no proceedings for the upgradation will happen until the onboarding of the platforms holding 80% of the liquidity. Soon, the exchanges will be required to upgrade to 1.35.3 to provide liquidity.

Once the upgradation to 1.35.3 is done by the top 5 crypto exchanges and top dApps report successful tests against node 1.35.3, IOHK will announce the hard fork’s final date. binanceCardano News information svg%3E binance [email protected] Centralised Exchange svg%3E svg%3E svg%3E svg%3E svg%3E svg%3E svg%3E Followers : 0 View profile , which contributes approximately 30%-40% to the Cardano trade volumes, has announced an upgrade to 1.35.3.

About 53% of the mainnet block production in epoch 359 comes from theSPOs that run on the 1.35.3 node. 75% of block production comes from the SPOs that run the 1.35.3 node to implement the fork on the Cardano mainnet.

The Cardano (ADA) prices are moving fast and can soon hit $0.55, despite Fed Chair Jerome Powell’s hawkish take on interest rate hikes.

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