Cardano blockchain will finally implement the Vasil hard fork on Thursday, September 22 (September 31). This update aims to improve the capacity of smart contracts, increase blockchain throughput and reduce the cost of fees in the Cardano network.
To Report CoinDesk, second edition Plutus, the core language of Cardano’s smart contract, will be offered with Vasil’s hard fork. As a fundamental layer in the Cardano blockchain, this scripting language effectively separates the smart contract execution codes that remain off-network and run on the user’s device from the on-network validation of transactions. The new features of Plutos 2.0 will be available in an Epoch after the implementation of Vasil’s hard fork, probably from September 27 (October 5).
Cardano is sometimes criticized because its smart contract capabilities lag behind Ethereum and other tier-one blockchains that have a growing DeFi ecosystem. Ethereum uses an account-based model that is somewhat similar to a bank. In contrast, Cardano uses Bitcoin’s Unspent Transaction Output (UTXO) system. This method calculates the assets in users’ wallets by checking the remaining money after spending coins.
With Vasil’s update, Cardano’s ledger allows unspent input and output of transactions to be used in smart contract scripting without having to pay fees. In other words, access to the information stored in the blockchain will be facilitated without the need to pay a fee and recreate the unspent output of transactions. Optimizing the way reference scripts are handled effectively reduces the volume of transactions that run them, which previously caused delays in transaction processing.
In Vasyl’s hard fork, Cardano will extend Bitcoin’s accounting method to manage its smart contracts. This way to Extended Unspent Transaction Output (EUTXO) is known, designed to maintain the maximum performance of the Cardano blockchain; A key feature that is important in dealing with the issue of scalability and reducing the scope of attacks and security flaws.
Matthias Benkort, CTO of Cardano said:
Some people see blockchains as fully programmable platforms, game engines, databases, and more; But blockchains aren’t really like that. They are the only general ledgers that keep track of transactions.
For this reason, he said, minimizing critical activities within the network is important to maintain the security and auditability goals of blockchains.
One of Cardano’s developments after Vasil’s hard fork with the title Diffusion Pipelining Is known; Although you don’t need a hard fork to do this. By publishing blocks before full validation, while headers are still being validated, this solution compresses some of the nodes’ idle time to increase Cardano’s speed and potential scalability.
IOHK, the company that designed and developed Cardano, said in a statement that Vasil’s scalability update will simplify the process of sharing information about newly created blocks among network participants by ensuring that blocks can be published across the network within five seconds of their creation. will do.