Cardano’s Vasil Upgrade Has Been Deployed
Cardano’s long-anticipated Vasil upgrade was successfully forked via a hard fork combinator (HFC) event at the start of the latest epoch (365), yesterday Sept 22 at 9:45 PM UTC. An epoch is a 5-day reward cycle. When users stake their ADA, they start receiving rewards after two epochs (10 days) and keep receiving staking rewards every epoch as long as they are staked.
#Vasil mainnet HFC event successful!🍾
— Input Output (@InputOutputHK) September 22, 2022
We’re happy to announce that today, at 21:44:00 UTC, the IOG team, in collaboration with the @CardanoStiftung, successfully hard forked the Cardano mainnet via a HFC event, thus deploying new #Vasil features to the chain.
🧶1/5
The Vasil hard fork was originally scheduled for June but was postponed due to several bugs that developers had noticed. The hard fork brought the Vasil upgrade to the mainnet, but the full features of Vasil will not be active until the next epoch on Sept. 27 9:45 PM UTC. At the start of the next epoch (366), the Plutus V2 cost model will be active, bringing full Vasil functionality to the network.
The Plutus V2 cost model is expected to make smart contracts much more cost-effective and efficient.
The price of Cardano has been slowly rising since Sept. 21, in anticipation of the upgrade. Around a year ago today (Sept. 24, 2021), Cardano was hitting highs of $2.30.
