Progress towards to the #Vasil mainnet upgrade continues...
For this upgrade to be triggered, the IOG & @CardanoStiftung teams are tracking three critical mass indicators the community will need to reach before the #Vasil upgrade will be triggered. 🧵
1/9
A reminder:
🟢 75% of mainnet blocks being created by the final #Vasil node candidate (1.35.3)
🟠Approx. 25 exchanges upgraded (representing c.80% of ada liquidity)
🟠Top 10 DApps by TVL confirming they've upgraded to 1.35.3 on PreProduction & are ready for mainnet.
2/9
The #Cardano SPO community has been busy over the weekend. And we're delighted to report that more than 75% blocks are now being minted by nodes supporting 1.35.3. First box ticked. ✅💪
We’d like to see as many as possible upgraded by the time the #Vasil upgrade is deployed to mainnet but great to hit this first critical metric so soon.
Thanks to the great efforts of the incredible SPO #Cardano community. Let’s keep going & getting that number up?! 📈💪
4/9
Exchanges are now also hard at work testing. Kudos to the following exchanges who have thus far confirmed readiness to the @CardanoStiftung team
and many others have also communicated they have started the integration and testing process. The @CardanoStiftung exchange team continues to support. For a full list:
Many of the leading DApps are also all hard at work. You can check how they are doing and overall progress against all three metrics on the page linked above which we update regularly as we receive information.
7/9
We continue to track closely the remaining metrics. Once achieved, in collaboration with the @CardanoStiftung team, the upgrade process will be triggered for the #Cardano mainnet.
8/9
Remember, this is software development and proper testing across the ecosystem is vital to ensure the upgrade is delivered safely and securely.
Thanks and stay close to our Twitter for updates throughout this week for the latest 👍🙏
9/9
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IOG & @CardanoStiftung continue to work with the community readying for the #Vasil upgrade. Vasil brings numerous enhancements to #Cardano, from pipelining (adding throughput & scalability) and exciting new #Plutus capabilities. 1/8
As we’ve communicated previously, we are committed to ensuring that SPOs, #DApp developers and exchanges have the time they need for updating their node versions, testing & integration work.⌛️2/8
We’re tracking three critical mass indicators ahead of triggering the hard fork: 75% of mainnet blocks created by the final release candidate, roughly 25 exchanges upgraded (representing c.80% of liquidity), and the top 10 DApps by TVL updated. 💪 3/8
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…👇
Thread🧵
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
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