Cardano hard fork ‘ever closer’ as upgraded SPOs account for 42% of blocks
(Cointelegraph Team)
Input Output Hong Kong (IOHK), the blockchain company behind the Cardano network says the much anticipated Vasil hard fork is “ever closer” after revealing the state of three critical indicators that will trigger the mainnet update.
In a Twitter thread posted on Aug. 25, IOHK shared its latest “rollout status” of the Vasil upgrade to its 265,800 followers, with updates on “three critical mass indicators” which will determine when the mainnet update will go ahead.
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This includes having 75% of mainnet blocks produced by nodes running 1.35.3, around 25 exchanges upgraded (representing 80% of liquidity) as well as the top ten key mainnet Dapps also having upgraded.
on Thursday, the blockchain company noted that Stake Pool Operators (SPOs) running the latest node 1.35.3 now account for 42% of mainnet block production in the current epoch, which is now more than halfway to the 75% required.
IOHK also noted that one of the world’s largest exchanges, Binance, has reportedly upgraded their Cardano nodes to the latest version. The firm has been targeting roughly 25 exchanges to upgrade their nodes, as it would account for approximately 80% of its native token’s total liquidity.
Regarding its mainnet decentralized applications (DApps), IOHK confirmed that they’ll continue to stay close to many of the DApp teams on Cardano, with four out of 10 already confirming they are actively testing against node 1.35.3 on the pre-production testnet.
IOHK also shared that no new bugs have been identified, leaving nine minor bugs still to be dealt with — none of which will cause an unintended hard fork.
The long-awaited Vasil upgrade is aimed at reducing transaction size and allowing for more network activity while lowering costs.
After a roadmap was released by IOHK on May 19 which planned for a hard fork on Jun. 29, the Vasil upgrade has been plagued by delays while developers ensure the network transition proceeds smoothly.
Charles Hoskinson, co-founder of Cardano, recently responded to criticism about the upgrade being rushed. He suggested that they could delay the launch for months to retest the code which has already been tested and running, but the DApp developers would not see this as worthwhile given they have waited so long already.
Solana price likely to trigger 15% rise as stability returns after SOL bears’ rampage
(Akash Girimath – FXStreet)
– Solana price shows a consolidation after a 27% crash from roughly $48 to $35.
– The ongoing range tightening will likely result in a 15% upswing to $40.39.
– A daily candlestick close below $35 will invalidate the bullish thesis.
Solana price shows that it is in a consolidation phase after the recent drop. This tightening could evolve into an explosive move to the upside. Investors can wait for a confirmation of the breakout and ride the wave.
Solana price ready for recovery
Solana price dropped 27% from its August 14 swing high at $48.37 and is stabilizing around $35. So far, SOL seems to be consolidating here for roughly the last week and shows no signs of an immediate uptrend.
However, investors can look for confirmations of a bullish move for Solana price in a lower time frame.
The volume profile shows that the point of control, aka the highest volume traded level, is present at $40.39. Hence, the breakout move will likely face resistance around this barrier, suggesting the upside for Solana price is capped at 15%.
If the buying pressure and bullish momentum are strong enough to flip this hurdle into a support floor, the uptrend for Solana price could extend to $44.45 or roughly $45. This barrier has been a major resistance level for the last three months, hence a local top could form here before a breakout.
While things are looking up for Solana price, a daily candlestick close below $35 will create a lower low and invalidate the bullish outlook. This development could see SOL drop to July 13 swing low at $31.75.
If the sellers step on the pedal, then SOL could revisit the subsequent swing lows until $25.84.
Read Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Can bulls make a strong comeback this week?
