The IOG & @CardanoStiftung teams – plus the whole dev and SPO community – continue to work hard preparing for the #Vasil upgrade, bringing multiple enhancements to #Cardano.
Here’s a quick recap of where we’re at and what you can expect…👇
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1/9
A new node version - 1.35.3 - has been released for use on the Vasil dev net and the new pre-production environment. As long as we do not encounter any significant new issues, this will be the version with which we’ll trigger the #Vasil upgrade on mainnet.
🧵2/9
This new pre-production environment has been set up to provide a ‘clean’ and more agile environment to test against 1.35.3 for exchanges and SPOs. We invite SPOs, developers #BuildingOnCardano, and exchanges to commence their final testing and integration processes.
🧵3/9
If you would like to continue testing on the Cardano testnet, please keep in mind that node version 1.35.2 will be the only version that works. Additionally, any SPOs running 1.35.0, 1,35.1, or 1.35.2 on the #Cardano mainnet should immediately upgrade to 1.35.3.
🧵4/9
The #Vasil upgrade is the most ambitious program of work we’ve undertaken. None of this would have been possible without the community’s support - it’s been a real team effort.🙏 Our prime concern is ensuring we manage this upgrade in a way that is safe and secure.🛡️
🧵5/9
Three critical mass indicators will determine when we trigger the mainnet update:
1⃣ 75% of mainnet blocks being created by the final #Vasil node candidate
2⃣roughly 25 exchanges upgraded representing c. 80% of liquidity
🧵6/9
3⃣key mainnet #DApps (inc. top ten by TVL) confirming they have upgraded to 1.35.3 on PreProduction and on Mainnet
🧵7/9
We’ll continue to bring you updates over the next few weeks as things progress.
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And in case you’re looking for a deeper dive into the #Vasil upgrade, check out the latest mid-month dev update with @timbharrison@khstandrews & Nigel for more details:
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The first of IOG’s research papers was ‘Ouroboros: A Provably Secure Proof-of-Stake Blockchain Protocol’, academically peer-reviewed and published at Crypto 2017.
On #Cardano, stake pool operators earn rewards for running the nodes that support the network and produce blocks. At the same time, $ada delegators get rewarded for staking.
We’re happy to report that today at 20:20 UTC the IOG team has successfully hard forked the #Cardano Testnet. This is an important next step in the journey towards the Vasil upgrade on mainnet. 🧵
1/10
We're now inviting SPOs, developers #BuildingOnCardano and exchanges to commence their final testing and integration processes.
2/10
#Vasil is a complex program of work. Projects will need to check backward compatibility and SPOs will need to make some scripting adjustments.
Minimizing the energy cost and carbon footprint 👣 of the #Bitcoin#blockchain and related protocols remains one of the most widely identified open questions in the #cryptocurrency space.
🧵1/4
Substituting the proof-of-work (PoW) primitive in Nakamoto's longest chain protocol with a proof of useful work (PoUW) has been long theorized as an ideal solution in many respects but, to this day, the concept still lacks a convincingly secure realization.
2/4
So we're pleased to announce that IOG research paper 'Ofelimos: Combinatorial Optimization via Proof-of-Useful-Work: A Provably Secure Blockchain Protocol' has been accepted to Crypto 2022 @IACRcrypto 🤓 3/4
We’re delighted to report that in the last few minutes we have submitted an update proposal to hard fork the #Cardano Testnet, and commence the countdown for the #Vasil mainnet upgrade. 🧵
1/n
With over 75% of testnet blocks being created by the new Vasil node (1.35.0) we now have a good chain density to proceed safely.
2/n
Thanks to all the #Cardano SPOs who continue to support the testnet, and their coordinated effort to ready the network for the Vasil HFC event.
3/n
There are over 1,000 projects #BuildingOnCardano and the ecosystem continues to grow.
That’s 1,000+ projects that believe in the Cardano blockchain and its community.
Let’s take a look at why some of these projects are choosing #Cardano. In their own words.
🧵 1/n
💬 @adahandle - ‘a standardized NFT project that devs & users use to associate Cardano addresses with custom, human-readable addresses.’
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🌍 @Adanianlabs - ‘an AI, Blockchain, and smart technologies venture studio that builds nurtures, and scales impact-driven tech startups across Africa.’