Cardano (ADA) Price Down Today As Vasil Hard Fork Pushed To July 2022

Summary:

  • The Vasil Hard Fork will not happen on June 29, 2022, as previously scheduled.
  • Developers need more time to fix seven bugs before shipping the update, per reports.
  • IOHK’s Nigel Hemsley stressed that the hard fork cannot be rushed.
  • Hemsley also pointed out that developers have made a mountain of progress regardless of the change in dates.
  • ADA is in red on the back of the news. 

Cardano’s latest update dubbed the Vasil Hard Fork has been postponed by core developers due to some unresolved bugs. The news was shared by Input Output Head of Delivery and Product Nigel Hemsley via a blog post on Monday. 

According to Hemsley, the primary Input Output Global (IOG) team has finalized the core bits of the work necessary to make Vasil a reality. Initially, the team expected to ship the hard fork to a Cardano testnet this week ahead of the mainnet launch previously scheduled for June 29. 

However, the team decided against the move after re-assessing progress during an evaluation meeting. Developers spotted seven bugs that could interfere with a smooth hard fork. Hemsley noted that these bugs are not regarded as “severe” at the moment.

Regardless, security remains the priority and Vasil has been postponed to July, per the blog post. Hemsley also highlighted that the update cannot be rushed. 

The work on Vasil has been the most complex program of development and integration to date, from several angles. It’s a challenging process that requires not only significant work from core teams but also close coordination across the ecosystem.

Cardano (ADA) Reacts to Vasil Fork Timeline Update

The price of ADA responded to the news with a slight dip in market price. At press time, ADA fell below $0.51. Similar to most cryptos, ADA is also a far cry away from its all-time high of $3.1 in September 2021.

Cardano (ADA) Price Down Today As Vasil Hard Fork Pushed To July 2022 1
ADA Daily Chart (Source: TradingView)

Leave a Reply

Your email address will not be published.