Cardano is on the verge of implementing the much-anticipated Chang hard fork update, following the release of node validator software version 9.1.0. This pivotal version includes essential updates required for the fork. The organization Intersect, which focuses on the ADA ecosystem, declared on July 25 that Node 9.1.0 is the final upgrade, introducing on-chain decision-making capabilities to Cardano.
What’s Next for ADA?
Charles Hoskinson, the founder of Cardano, affirmed the node launch as the concluding step before the Voltaire phase. Voltaire represents the last stage in the network’s roadmap, incorporating governance and treasury management functionalities into the blockchain. Hoskinson remarked, “This is it, the final node 9.1 Voltaire. Congratulations on upgrading the SPOs. Welcome to Chang.”
According to the GitHub page for the upgrade, Node 9.1 offers more than just bug fixes. It equips the network with all the necessary components to implement the forthcoming Chang hard fork, including the Conway Genesis file.
However, the hard fork will only proceed once 70% of validators or Stake Pool Operators (SPOs) have upgraded to the new node. Presently, Cardanoscan reports that only about 3% of the network’s 3,110 stake pools are ready for the hard fork. Consequently, the final date for the hard fork will be determined once the community achieves the required SPO readiness levels.
Details on the Transition
While the community generally views the upcoming hard fork as a critical milestone for the blockchain’s growth, some concerns have been voiced. Philip Lewis, co-founder of the Cardano-based crypto project Empowa, pointed out the risks associated with transferring control of such a significant scientific and engineering accomplishment to the community.
Despite his reservations, Lewis remains hopeful about the outcome. He emphasized that the community has built an outstanding technology stack for decentralized social systems and cultivated a culture that appreciates the potential of blockchain technology. Lewis commented, “Most of our community is striving to produce professional solutions to real-world problems and is not chasing hype to get rich quickly… It is this culture that will ensure that decisions to make protocol changes or withdraw treasury funds are made with the same care and diligence we have all learned.”
Key Takeaways
– Node 9.1.0 includes critical updates for the Chang hard fork.
– 70% of validators or SPOs must upgrade before the hard fork can proceed.
– Only 3% of stake pools are currently ready.
– Community control introduces both opportunities and risks.
– A strong culture focused on responsible decision-making exists within the Cardano community.
Conclusion
As Cardano approaches the Chang hard fork, the community’s preparedness and commitment will be crucial to its success. The transition not only marks a significant technical achievement but also a pivotal moment for decentralized governance and community-driven decision-making within the blockchain ecosystem.