The Cardano network is on the brink of a significant milestone as technical preparations for its V11 hard fork near completion. Dubbed van Rossem, this update is named in tribute to a prominent community figure and stands poised for deployment pending one final approval from the Constitutional Committee.
Approval on the Horizon?
The decision now rests with the Constitutional Committee, as all technical aspects of the V11 upgrade are set. This development, which honors Max van Rossem for his contributions, marks both a tribute and a technical leap for Cardano as it merges legacy with innovation.
What Will V11 Introduce?
The V11 update promises to enhance Cardano with features like more affordable smart contracts and compatibility with zero-knowledge proof technology. Additionally, it sets the stage for transitioning into the Dijkstra era, further bolstering Cardano’s developmental trajectory.
Implemented through decentralized consensus, the update requires collective approval rather than a single authority. The necessary voting thresholds by the Delegated Representatives and the Stake Pool Operator community have been met, bringing the update closer to realization.
- Constitutional Committee’s approval status remains pending.
- Voting thresholds for DReps and SPOs have been successfully achieved.
- 88% of recently produced blocks employ the V11 software, indicating strong adoption.
Are Exchanges Prepared?
Absolutely, as exchanges and testnets have shown readiness. Both the Preview and Preprod testnets successfully implemented the update, alleviating technical risks before mainnet activation.
With 88% of recent blocks using the new software, the network displays robust readiness. Major exchanges such as Binance and Coinbase have also confirmed their ability to support the hard fork.
“Major crypto exchanges, including Binance and Coinbase, have confirmed their operational readiness for the V11 hard fork.”
As these infrastructural requirements fall into place, only the Constitutional Committee’s approval stands between Cardano and the activation of its V11 hard fork, poised to launch a new era for the network.
