What’s the Latest on Cardano’s Vasil Update? Developer Transferred Information From Exchanges!

cardano According to Tim Harrison, VP of Community and Ecosystems at developer company Input Output, stock market readiness is currently over 87% prior to the Vasil upgrade.

Most Cryptocurrency Exchanges Are Ready For Cardano’s Vasil Update

Cardano company has set the standard on the top 25 exchanges, representing around 80% of ADA token liquidity.

Cryptocurrency Binance.US, a local subsidiary of giant Binance, announced earlier today that it has integrated the Vasil hard fork.

With a little over 24 hrs to go before the #Cardano #Vasil upgrade, exchange readiness (by liquidity) now at over 87% 👏👍

— Tim Harrison (@timbharrison) September 21, 2022

The highly anticipated update is scheduled to be rolled out on Thursday and will bring significant improvements to one of the largest Proof of Stake blockchains.

Specifically, the upgrade is expected to enhance Cardano’s smart contract through Plutus v2. The update is set to improve the efficiency of the smart contract platform. Since the inception of the smart contract feature, Cardano had recorded increased activity.

Along with Vasil, the upgrade is also expected to unlock various functions such as reference entries that enable on-chain data sharing.

This feature will facilitate access to information stored on the blockchain without wasting and recreating UTXOs (unspent transaction output).

On the other hand, Vasil will pave the way for reference script functionality envisioned to reduce transaction size, increase throughput and lower script execution costs. Upgrade allows developers to reference a script without including it in every transaction.

IOHK also stated that after the upgrade on September 22, a PreProduction environment will be created on September 24.

During the event, new Plutus features and cost models will be made available in the PreProduction environment before going mainnet on September 27.

*Not investment advice.