Tim Harrison, Cardano’s vice president of community and ecosystem, hints at an upcoming mid-month update that will touch on the Hard Fork Combinator (HFC) event scheduled for this June. Harrison also shared IOHK’s tweet about the Plutus enhancements boosting Cardano throughput in June.
If you want to understand more about some of these #plutus Enhancements Will Bring Vasil Hard Fork #cardanoRead it.
Afterwards, be sure to tune into tomorrow’s mid-month update to enjoy a nice deep dive section @John Allenwoods Recorded exclusively for the show https://t.co/gsyYWTaiM1
— Tim Harrison (@timbharrison) 13 April 2022
Cardano’s major update, the Vasil Hard Fork, is expected to arrive in June. The upgrade in question is named after Bulgarian mathematician Vasil Dabov, who was a prominent member of the Cardano community.
The June event is of paramount importance to the Cardano ecosystem as it is expected to accelerate growth. In March, Cardano founder Charles Hoskinson commented on the evolution of the ecosystem, noting that many decentralized applications (dApps) are awaiting Vasil hard forks to benefit from pipelining.
Pipelining is a scaling solution that speeds up the process of distributing blocks, thus significantly reducing the “dead time” between them. This would make it possible to implement more aggressive changes such as context scripts, which could dramatically increase the throughput of the blockchain.
IOHK shares two things as expected
As noted in the IOHK blog post, Plutus Script Referencing and Reference Input are two major improvements planned to be included in the June Vasil hard fork.
Along these lines, CIPs for Reference Inputs (CIP-31) and Reference Scripts (CIP-33) have been submitted for implementation on Cardano and are expected to be implemented as part of the Vasil hard fork in June.
These Plutus enhancements will, among other scaling improvements, increase throughput for decentralized apps (dApps), decentralized finance (DFi), RealFi, products, smart contracts, and exchanges built or operated on Cardano.
CIP-31 introduces a new mechanism for a context input to access the information in the data. Transaction outputs include datums, which allow the storage and retrieval of data on the blockchain.
CIP-33 provides script context, which is the ability to reference a script without having to include it in each transaction, thus reducing the contribution of scripts to transaction size. Referencing scripts across multiple transactions can reduce transaction size, increase throughput, and reduce script execution costs.