Cardano: What you should know about the HFC Abort fallback option

Cardano’s Hard Fork Combinator [HFC] event will be taking place towards the end of August, as per the latest update provided by Founder Charles Hoskinson. In his latest vlog, Hoskinson provided the community with more updates and the timeline that can be expected for the HFC rollout.

Countdown to Alonzo has begun

During his previous interaction with the community, Hoskinson had pointed out several things that need to be worked on before launching the HFC. Although the team has acquired a fully functional node, Hoskinson claimed that the team is seeking its stability and are waiting for “everything to come together” for Version 1.4 of the node.

The team is also working on the Daedalus wallet integration and it is expected to be wrapped up by Thursday. With wallet integration reaching completion, the network will move forward with onboarding more exchanges. These exchanges, with the infrastructure providers, will provide feedback.

He noted,

“Based on the feedback the exchanges are giving and the other infrastructure people are giving-they come together for a consolidated opinion of what is the best date of delivery based on the upgrade time.”

On the basis of this feedback, the Cardano team will determine the date for the Hard fork combinator event.

Hoskinson added,

“Looks like everything is looking good. We are going to do a mid-month update and the mid-month update will announce the date of the HFC event.”

Contingency plans

This announcement will involve two different dates. One will provide the primary date for the HFC event, and the other, an Abort fallback date. The latter will be used to fix any issues that may arise from the deployment.

Since the HFC event has to be triggered five days in advance of the actual deployment, Hoskinson predicted this to be close to the end of August and the beginning of September. The tentative date for the Primary rollout of the HFC event could be between 31 August and 7 September, with the Abort fallback date following.

This HFC event is in line to enable smart contracts capabilities on the Cardano network. Thus, it is also the most-awaited update for the Cardano community.

Source: https://ambcrypto.com/cardano-what-you-should-know-about-the-hfc-abort-fallback-option/