It was just last week when the development teams behind Cardano’s latest hard fork shared their development update. They had revealed that despite going through all the efforts, they had established there were still many checks that had to be performed.
The teams revealed that they had found several bugs in the hard fork that had to be addressed before it could go live.
The Announcement Made in the Last Development Update
During the past week’s development update, it was revealed by the development teams that they are still working on the Vasil Hard Fork. The team confirmed that although they have moved the implementation date of the public testnet for the hard fork, it is still undergoing development.
Last week, it was communicated that the public testnet for the hard fork will be implemented by the end of June. However, from the looks of it, the team is still working on fixing the problems. Many community members are still concerned that the hard fork may not get implemented as targeted by the development team.
Once the public testnet for the Vasil Hard Fork is put in place, the SPOs and exchanges will take up to a month to complete the testing phase. After one month of testing, the mainnet for the Vasil Hard Fork will be implemented.
Impact on Cardano
Since the past year, Cardano hasn’t been able to perform very well in the cryptocurrency market. Its reputation and performance in the overall cryptocurrency market from the beginning of 2022 have been average.
Therefore, the entire Cardano is concerned and now, they have doubts whether the platform will perform better or not. The implementation of the Vasil Hard Fork was to bring in many reforms and facilities for the Cardano community.
It was expected by the community that the hard fork implementation would prove to be very significant for Cardano.
However, the upgrade is plagued by several delays that are hampering the entire purpose of launching the upgrade. The Cardano developers had hoped that the introduction of an upgrade would be very promising.
Now, it seems that the Cardano upgrade is going to take more time than the development teams had predicted in the first place. Even now, the protocol is facing problems and the situation may continue worsening in the upcoming days.
If that happens, Cardano will have taken enough damage that the rallies formed through the implementation of the hard fork will lose their effectiveness.
Now, the Cardano community has their fingers crossed and they hope to hear good news from the development team. Until they do, the price of Cardano may continue taking a hit.
At the time of writing, Cardano’s trading price is $0.4889 and it has experienced a 2.58% dip in the past 24 hours.