At the time of this writing, Cardano's ADA holders are hours away from the Vasil upgrade. The time it took to get here, the thorough advancements carefully planned for and executed, the months of poring over code, peer-review stages, and Twitter threads that ultimately led to stronger ties for all have all led up to this: The Vasil upgrade for September 22, 2022.
This is the day that the movement forward to Vasil brings down transaction costs (of those TXs that include smart contracts), offers enhancements to smart contracts, and increases throughput. Faster block creation is said to be among its most significant elements.
The late Cardano aficionado, Vasil Stoyanov Davov, is the upgrade’s namesake. Davov, a Bulgarian artist with a green thumb and a love for mathematics, met Charles Hoskinson in 2018. A year later, the two would plant trees together in Davov's home country during a trip the Cardano founder took to visit the man, who, after his passing at the end of 2021, later remarked had a "druid-like" passion for nature.
The significance of this update and imminent Plutus v2 upgrade scheduled for the very next epoch––September 27––come just days after the Proof-of-Stake upgrade to the Ethereum Blockchain that has left some less enthusiastic than others. In the immediate days and sometimes months after so many blockchain upgrades, communities at some point realize they don't bestow instant wealth but are instead simply milestones for greater possibility. The situation can be likened to a dirt-hauling company upgrading its smaller pickup fleet to large dump trucks. The company doesn't become wealthy overnight, and perhaps maintenance costs them more in the short-term, but it is a step towards progress and having an overall higher capacity for bigger jobs they can now take on. As sexy as we want it to be, an increase in power or potential, in reality, means more work is ahead, but thankfully work that can now achieve higher possibilities; thanks to all involved!
No matter the expectations and outcomes, it is a significant day for Cardano, for Proof-of-Stake, and the entire blockchain space. We here at Lido Nation (as much as our LIDO Cardano Stake Pool may confuse) see this as another reason for multi-chain celebration. With that, congratulations to everyone striving to put one foot, or upgrade as it were, in front of the other on a path to an ever more bright and decentralized future!