Cardano’s Node 9.0.0 paves way for transformative Chang hard fork Technology 5 hours ago

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.”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.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.”Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.Also known as “Akiba,” Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change. Must-read crypto news & insights. Delivered daily.The report revealed that Cardano uses an energy-efficient consensus mechanism that requires less energy.Polkadot’s ecosystem recently welcomed SnowBridge, a bridge connecting it to Ethereum blockchain network.Cardano blockchain continued to operate optimally despite the DDoS attack.Hoskinson said the update would be the most significant in the hsitory of the Cardano network.CryptoSlate’s latest report dives deep into Glassnode’s regional supply and price metrics to analyze their changes in the first half of the year.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.