Cardano's Node 9.0.0 paves way for transformative Chang hard fork

cyptouser2 weeks agoCryptocurrencies News67
Cardano network’s highly anticipated Node 9.0.0 has launched to much acclaim on July 8.

According to its GitHub document:

“Node 9.0.0 is a major release of the Cardano node that contains all the changes that are needed for the Conway ledger era, including on-chain governance via CIP-1694, support for Plutus v1 reference scripts, and Plutus script signature support via CIP-69.”

Why Node 9.0.0 is important for Cardano

In a July 8 video on social media platform X, Cardano founder Charles Hoskinson emphasized Node 9.0.0’s importance. He explained that it lays the groundwork for the Chang hard fork, significantly altering the blockchain network’s structure.

Hoskinson said:

“Node 9.0.0 basically means Cardano has the best, the most decentralized and I hope the most effective decentralized government in the entire cryptocurrency industry.”

However, Hoskinson noted that Stake Pool Operators (SPOs) need to independently test the new node and upgrade before the network can perform the Chang hard fork. So, with at least 70% or more SPOs upgraded, a hard fork date will be set for the network to transition into Chang.

Data from Cardanoscan shows that exchanges and stake pools are not yet ready for the hard fork as of press time.

Chang hard fork

The Chang hard fork marks the culmination of a multiyear effort to transfer project ownership from Cardano Foundation, EMURGO, and Input-Output Global to the community. This move will transform the blockchain into a self-sustaining entity with features like on-chain voting and participant rights.

In this era, Chang will introduce Delegate Representatives (DReps), elected by Cardano token holders. These representatives will draft a Cardano Constitution, becoming the network’s supreme governing law. Once approved, DReps will propose changes in accordance with the constitution.

Hoskinson reflected on the significance of this move, saying it would help Cardano become the most scalable ecosystem within the next 24 months because “governance is the key differentiating feature.”

Mentioned in this article
Cardano Input Output EMURGO Charles Hoskinson
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