Cardano has successfully launched the Vasil upgrade on the testnet

Vasil will introduce a slew of scalability enhancements whenever it is released on the mainnet. Increased throughput or block generation speed is one among them, as is improved “script performance and efficiency.” Furthermore, all users will benefit from lower network expenses. Vasil will also enable Cardano and other blockchains to communicate with one another.

For the time being, IOG states that the Vasil proposal for Cardano mainnet will not be revealed until the community is “comfortable and ready.” However, the company anticipates that this will be completed within the next four weeks.

IOG had had scheduled the Vasil mainnet hard fork for June 29. However, the engineering team agreed to postpone the event to allow for the resolution of few minor faults.

Smart Contracts for Growth

The introduction of smart contract functionality was the prior key advancement for Cardano. It was accompanied by a slew of DApps, including DeFi protocols. Despite the fact that the ecosystem has been plagued by concurrency concerns, it continues to see significant developer engagement and an increasing number of DApps.

Cardano’s total value locked (TVL) is currently $115.85 million, according to DeFi TVL aggregator DeFi Llama. WingRiders, a decentralized exchange, is the largest contributor to this statistic, with a TVL of $49.7 million.

Despite the fact that Vasil is a huge event for Cardano, the news of its deployment on the network’s testnet has done little to boost the price of ADA. At the time of writing, the token was trading at $0.44, down 0.4 percent on the day.