Cardano’s (ADA) Vasil upgrade has been long awaited by crypto users and enthusiasts. After fixing a bug that caused issues on the testnet (Node v1.35.2), things seem to be moving forward as planned. According to the data available on pooltool.io, 47% of Stake Pool Operators (SPO) have updated their nodes to 1.35.3, which was released last week.
What are the requirements for Cardano to upgrade to Vasil?
The Vasil upgrade aims to improve Cardano’s scaling abilities. Nonetheless, the network requires 75% of the SPOs to update their nodes in order for the Vasil upgrade to take place. Being at 47%, the number is more than halfway there. Many expect the threshold to be reached within a week.
Apart from having 75% SPOs update their nodes, Cardano will need 25 exchanges that have a lion’s share of liquidity to be onboard.
Furthermore, Cardano-based decentralized applications (Dapps) also need to upgrade to the new node. According to DefiLlama, the most popular Dapps on the network right now are Minswap, WingRiders, SundaeSwap, MuesliSwap, and Lending Pond.
Many were concerned about the Vasil upgrade as a bug plagued the network. According to reports, the problem was caused by the pool operators racing to upgrade the mainnet, which led to incompatible forks and a decrease in chain density. However, Cardano founder, Charles Hoskinson, assured users that there would be no problems with the Vasil upgrade.
Cardano has often faced backlash due to its launch delays. The Vasil upgrade was scheduled to go live in June. However, the upgrade was pushed back due to technical difficulties.
The difficulties in the testnet were reflected in Cardano’s market performance. Amid a larger market downturn, ADA slumped 17.8% in the last seven days. Furthermore, the token is 85.1% down from its all-time high of $3.09, which it attained in September of 2021.
At press time ADA was trading at $0.460269, with a 0% change in the last 24 hours.