Cardano: IOG Reveals Progress The Upcoming Vasil Update Has Achieved
Input-Output Global (IOG), the technology firm handling Cardano’s development, said the Vasil Update would soon be ready for the mainnet hard fork launch.
IOG Explains Vasil Update’s Readiness
IOG indicated in August that it would monitor three key indicators before activating the Vasil Hard Fork. Accordingly, 75% of mainnet blocks are generated by the final version. A total of 25 exchanges are updated, and the top 10 decentralized applications by total value locked (TVL) are adjusted.
However, the latest IOG report shows that more than 83% of SPOs have already been updated, suggesting the “node readiness” measure has already been achieved.
IOG also provides more insights on the update by stating that it is currently working on the Vasil integration for the network. Moreover, of the top 12 exchanges by liquidity volume, two platforms, Bitrue and MEXC, have already confirmed their readiness for the launch of the Vasil Update.
Similarly, other exchanges like BitMart and LCX affirmed that they were ready. According to IOG, at least 27 firms are on the verge of integrating, with 5 of the top 10 exchanges having high liquidity.
Overall, over 70% of the top decentralized apps have confirmed that the pre-test was a success.
Meanwhile, the Vasil Upgrade was named after the dedicated Cardano community member, the late Vasil Dabov. It aims to improve the Cardano network and enhance its overall performance.
In addition, the Vasil Upgrade will increase the throughput and efficiency of Cardano’s script while decreasing the latency rate in block interaction.
Orbis is Creating a Zk-Rollup to Expand Cardano
Over a decade, various companies have used public blockchains to handle their operations. However, they have appeared unable to solve the challenges of the blockchain trilemma for years.
For emphasis, the Blockchain Trilemma describes the problem of a public chain failing to improve its three core areas: security, scalability, and decentralization.
As a result, Orbis seeks to improve the scalability of the Cardano Blockchain by developing a ZK-Rollup. Known as Zero Knowledge Roll-ups, zk-rollups are a Layer-2 scaling solution for improving the throughput of a blockchain.
The protocol can process thousands of transactions in phases and transfer some of the summary data to a mainnet.
Orbis intends to use the zk-rollups to scale the Cardano platform without compromising the security and decentralization of the network.
ZK-rollups differ from other scaling solutions because they can pull large orders and provide more scalability to Cardano. Moreover, the Cardano development team sees the ZK-rollups as the perfect scaling solution to maintain its basic designs. It can scale the network to make it ready to host Defi applications and other protocols.
Using the Orbis platform, each phase produces a cryptographic proof, known as a ZK-SNARK, which is presented to and validated by the Layer 1 on-chain on the Cardano network.
As a result, Orbis would enhance Cardano’s transaction speed because the mainnet can control the input and output in compliance with blockchain guidelines.
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