The Cardano network has inched closer to the final phase of a multiyear program to become a fully decentralized blockchain ecosystem. This milestone comes after the latest release of a major node validator software, which is the final development step needed to trigger the highly-awaited Chang hard fork.
The Dawn Of The Voltaire Era
The Cardano development team released Node 9.1.0, the newest version of the Cardano validator node software, on July 25. Node 9.1.0, which is an upgrade of Node 9.0 previously released on July 8, prepares the network for the Chang hard fork.
Node 9.1.0 is here!The final version to bring on-chain decision making to Cardano is here. As with all hard-forks, Cardano upgrades when the community is ready.SPO's https://t.co/UwgSE0dWc0DApps, wallets, exchanges & more get #ReadyforChang https://t.co/vDJ4yyIdHP pic.twitter.com/fnHLgupBmn
— Intersect (@IntersectMBO) July 25, 2024
As a first step, the validating node software operated by the system’s stake pool operators needs to be upgraded to the latest version. Then, the blockchain will undergo the Chang hard fork, and, in doing so, enter the Voltaire era of decentralized network governance. Cardano is currently in its Basho phase.
For the hard fork to be executed, 70% of validators will vote to upgrade to the new software. Validators are upgrading swiftly, with 13% installing the new node as of publication time. Besides incorporating some bug fixes and enhancements, node 9.1.0 requires the use of the Conway Genesis file on the mainnet, which will facilitate the move to the Chang fork.
Chang Promises Significant Transformation Of Cardano Ecosystem
The Chang hard fork, initially slated for the first half of 2024, aims to enhance the infrastructure and capabilities of the Cardano blockchain dramatically.
Chang is the first step in giving Cardano fully decentralized governance. Once the switch is complete, the seven-year-old blockchain network will no longer be actively run by Cardano development firm IOG but will instead be completely managed by community members.
Eventually, Chang will allow the introduction of Delegate Representatives (DReps), who Cardano tokenholders will vote in. These representatives will draft a Cardano Constitution, which will become the main governing law of the network. After a constitution is formulated and approved, DReps will continue to propose changes to the network per this constitution.
ADA tokens are up 2% in the past 24 hours, CoinGecko data shows. Be it as it may, Cardano enthusiasts are anticipating a meteoric price rally in the same mold as the Alonzo hard fork from 2021, which propelled ADA to its current lifetime high of $3.09 in September of that year.
