Community is excited about what it deems start of new era for Cardano
Today, September 27th, is another “big” day for the Cardano blockchain, as Plutus V2 is expected to go live. The Plutus v2 cost model network upgrade is scheduled to occur at epoch 366 or approximately September 27 at 9:45 pm (UTC).
On Sept. 23, the IOG team successfully submitted the Plutus V2 cost model to the mainnet, which implies that the full Vasil capability would be made available to developers on Sept. 27.
Full Vasil functionality, including context inputs, inline datums, context scripts, collateral outputs, and a new Plutus cost model, will be made available to developers on the mainnet, marking an important milestone for the Cardano network.
Ahead of the Vasil event, top crypto exchange Binance already announced it would temporarily suspend deposits and withdrawals of ADA from approximately Sept. 27 at 8:45 p.m. (UTC).
The community is excited as a new era begins for Cardano. Cardano user Lucid tweeted, “We will see the remaining Vassil improvements upgraded on the Cardano mainnet! This is bringing the rest of the upgrades to Plutus 2 with CIP 31-33! Developers will now be able to build and launch all their projects, the beginning of a new era for Cardano DeFi.”
Whales are also taking notice as they have been seen accumulating ADA. According to WhaleStats data, ADA is back among the top 10 most purchased assets for the top 100 BSC whales. ADA was changing hands at $0.457, up 2.74% in the last 24 hours.
Vasil Hard Fork Trigger
As reported by U.Today, the Vasil upgrade started rolling out on the mainnet on 22 September. Vasil hopes to enhance Cardano’s smart contract capabilities through the Plutus V2 script and cost model, which adds more efficiency. Ultimately, it aims to reduce transaction size and script execution cost while increasing throughput.
According to IOG, monitoring will continue for at least four epochs after the hard fork, after which a decision about future adjustments will be made based on “regular” network bandwidth.
