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

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

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The post Will ADA Price Hit $1 With Cardano Hard Fork Upgrade Coming in September? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

The Cardano developers are working hard on the Vasil hard fork update.

Meanwhile, Cardano’s founder, Charles Hoskinson, 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. 

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.

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.

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. Binance, 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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