The Cardano network is preparing for a hard fork with the latest node validation software release. The hard fork is part of the transition to the Voltaire era of decentralized network governance.
The latest version of the validator node, Node 9.1.0, is an upgrade to Node 9.0, which was released on July 8. In addition to fixing some bugs, the new node must use the Conway Genesis file on the mainnet, which enables a crossover to the Chang hard fork. The hard fork can be implemented when 70% of the validators upgrade to the new node.
Windows Hard Fork Promises Big Changes
Validators are upgrading rapidly, with 11% having upgraded at the time of writing, but one observer noted that scripts and tooling have yet to be upgraded. The Intersect Cardano user group noted that this upgrade will bring “significant changes” to the Cardano ecosystem.
“This release marks the completion of the foundational development work for the bootstrap phase of on-chain governance. (…) This milestone marks the installation of core elements of decentralized governance that have been deployed over two distinct phases.”
Intersect added that the second phase of the Chang upgrade will begin later this year. The first phase will involve “bootstrap governance” as the ecosystem becomes accustomed to the new features, which was announced in Cardano Improvement Proposal 1694 in November 2022.
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Cardano decentralization is on track
According to Cardano documentation, the Chang hard fork creates an on-chain governance mechanism for the Constitutional Council, delegating delegates to vote on behalf of individual Cardano Ada coin (ADA) holders and granting new governance roles to stake pool operators. Proposals and voting will take place on-chain.
Cardano’s last upgrade was the Vasil hard fork in September 2022, which brought faster block generation and improved smart contract performance. The Alonzo hard fork in September 2021 introduced smart contracts to the ecosystem.
The Chang software release was delayed by about a month due to the need to upgrade the Node 8 series following a distributed denial of service (DDoS) attack on June 25.
Voltaire is the last era planned for the network, and marks the transition of governance from Hong Kong’s Input-Output company to the community. Cardano has a market cap of around $14 billion.
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