Update: Cardano’s “Vasil” network upgrade and what it means for you
September 15, 2022
We would like to inform you of an important update.
Zipmex will support Cardano’s “Vasil” network upgrade on 22 September 2022. (to read more: link)
What happens next?
- As a precautionary measure, deposits & withdrawals of ADA will be temporarily paused on Zipmex during the time of “Vasil” hard fork until the upgrade is complete.
- Note that trading of ADA will not be affected, and you will still be able to buy or sell ADA as usual.
- Wallet balances of ADA will not be affected by this upgrade.
- No action is required from you for the duration of the Vasil upgrade.
Zipmex will follow any announcements by Cardano closely to monitor for network resumption and the re-enabling of deposit and withdrawal functionalities. We will notify you if there are any further announcements.
Why is “Vasil” hard fork important?
The Vasil hard fork is an upgrade to its network capacity and to Cardano’s smart contract programming language which will bring many benefits including:
- Increased speed & throughput making Cardano faster to use
- Reduced transaction costs by making transactions small and lightweight
- Improved experience of developers to develop DApps.
To read more please click the links below for Cardano Improvement Proposals (CIP):
Vasil hard fork is named after Bulgarian mathematician Vasil Dabov, a prominent Cardano ambassador and community member who passed away recently.
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