Charles Hoskinson Reveals Final Vasil Hard Fork Details

Charles Hoskinson Reveals Final Vasil Hard Fork Details
  • The founder also confirmed the date of the hard fork as the 22nd of this month.
  • Charles compared ETH to the Hotel California of cryptocurrency in a tweet.

After Ethereum’s recent transition from a PoW to a PoS network, IOG creator Charles Hoskinson has offered his thoughts on the matter. In order to maintain a chain, a PoS network consumes far less power than a PoW network. Recently, Hoskinson, who helped create Ethereum, compared it to the Hotel California of cryptocurrency in a tweet.

After learning that the Kraken exchange is holding user withdrawals of staked Ethereum tokens until the Shanghai upgrade, Hoskinson made the above statements. There will be a minimum of six months between the Merge and the next planned update of Ethereum, which is called Shanghai. Kraken’s support team assures customers that they are not to blame for this limitation, but rather the Ethereum network.

All Eyes on Vasil Hard Fork

In anticipation of the update, which is expected to be live in five days, one can speculate as to whether ADA would respond to this significant upgrade in the same manner that ETH did after the Ethereum merging.

Hoskinson has a history of being at the center of debates. Earlier in the week, he tweeted that everyone would now think that all PoS networks are the same as Ethereum’s PoS because of the move to PoS. 

Charles Hoskinson revealed today a proposal to initiate the hard fork combinator which was voted positively bringing in the era of Vasil hard fork era. The founder also confirmed the date of the hard fork as the 22nd of this month. He went on to mention that this process is automated. He further emphasized that some of the Vasil stuff will take place immediately and the remaining by the 27th of this month.

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Content writer by profession. A crypto lover and has passion for writing. Follows the developments of digital currency right from its launch, years ago.