Cardano Prepares for Chang Hard Fork with New Node Software
26.07.2024 10:30 1 min. read Alexander Stefanov
Cardano is preparing for the Chang hard fork with the release of new validator node software, marking a key advancement toward the Voltaire era of decentralized governance.
The updated software, Node 9.1.0, supersedes the previous version and introduces crucial components for the Chang hard fork. This upgrade, required for transitioning to the new governance model, will take effect once 70% of validators have installed it. Currently, 11% of validators have completed the upgrade, although updates to related scripts and tools are still pending.
This upgrade is a significant milestone, with the first phase focusing on integrating decentralized governance. The second phase, planned for later this year, will further enhance these features.
The Chang hard fork aims to implement on-chain governance mechanisms, including a constitutional committee and delegate representatives for ADA holders, while also redefining the role of stake pool operators.
Previously, Cardano’s Vasil and Alonzo hard forks improved block creation speed and introduced smart contracts, respectively. The launch of Chang was slightly delayed due to necessary updates following a DDoS attack.
As Cardano moves towards its final governance phase, the community will take over from the Input-Output Hong Kong company. The network currently holds a market cap of around $14 billion.
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