Input Output Hong Kong, the blockchain company behind Cardano, has revealed the status of three crucial indicators that will trigger the mainnet upgrade.
IOHK posted its latest “rollout status” of Vasil’s upgrade to its 265,800 Twitter followers on Thursday. It also provided updates on “three critical mass indicator” which will help determine when the mainnet update will take place.
This includes 75% of the mainnet blocks being produced by nodes running on 1.35.3, approximately 25 upgraded exchanges (representing 80% liquidity), as well as top ten mainnet DApps (DApps), also upgrading.
The blockchain company reported that 42% of the mainnet block production in the current time period was now attributable to Stake Pool Operators (SPOs), which now exceeds half the required 75%.
Mainnet nodes status:
/SPOs/nodes – SPOs that run node 1.35.3 (the Vasil release candidate), now account for 40% or more of mainnet block production at the current epoch.
We are aiming for 75%.
— Input Output (@InputOutputHK)
August 25, 2022
IOHK also reported that Binance, one of the largest cryptocurrency exchanges in the world, had upgraded its Cardano nodes. It has been looking at approximately 25 exchanges for upgrades, as this would account roughly 80% of the native token’s total liquidity.
IOHK stated that it will continue to be close to most of the Cardano DApp teams. Four out of 10 have already confirmed that they are testing against node 1.35.3 using the preproduction testnet.
IOHK shared that nine minor bugs were still being worked on, and no new bugs have been discovered. None of these bugs will result in an unintended hard fork.
Related: Cardano’s testnet, Vasil’s hard fork and what’s the deal?
Vasil’s long-awaited upgrade is designed to reduce transaction sizes and allow for more network activity, while also lowering costs.
A roadmap was published by IOHK May 19. It planned for a hard fork June 29. However, the Vasil upgrade has been plagued with delays. Developers ensure that the transition to the new network is smooth.
Charles Hoskinson is the co-founder and chief executive of Cardano. He recently addressed criticisms about the speedy upgrade. He suggested they delay the launch by allowing developers to test the code that has been running for several months, but this would be considered futile since they had waited so long.