Cardano’s Node 9.0.0 paves way for transformative Chang hard fork

The Cardano network’s long-awaited Node 9.0.0 was released on July 8th to great acclaim.

According to GitHub: document:

“Node 9.0.0 is a major release of the Cardano node and includes all the changes required for the Conway Ledger era, including on-chain governance per CIP-1694, support for the Plutus v1 reference script, and Plutus script signing support per CIP-69.”

Why Node 9.0.0 is important for Cardano

July 8 video Speaking on social media platform X, Cardano founder Charles Hoskinson highlighted the importance of Node 9.0.0, explaining that it lays the foundation for the Chan hard fork, which will significantly change the structure of the blockchain network.

Hoskinson said:

“Node 9.0.0 basically means that Cardano has the best, most decentralized, and most effective decentralized government in the entire cryptocurrency industry.”

However, Hoskinson noted that before the network can execute the Chan hard fork, stake pool operators (SPOs) will need to independently test and upgrade their new nodes, so once at least 70% or more SPOs have been upgraded, a hard fork date will be set for the network to transition to Chan.

data According to Cardanoscan, at the time of writing, exchanges and stake pools are not yet ready for the hard fork.

Chan Hard Fork

The Chang hard fork is the culmination of a multi-year effort to transfer ownership of the project from the Cardano Foundation, EMURGO and Input-Output Global to the community. The move will transform the blockchain into a self-sustaining entity with features such as on-chain voting and participant rights.

During this era, Chan will introduce Cardano Token Holder Elected Representatives (DReps). These representatives will draft the Cardano Constitution, which will be the ultimate governing law for the network. Once approved, DReps will propose changes to the Constitution.

Reflecting on the significance of the move, Hoskinson said it will help Cardano become the most scalable ecosystem within the next 24 months as “governance is a key differentiator.”

Mentioned in this article

0 Comments

Leave a Comment