Cardano Founder Reveals Chang Hard Fork Is ‘Basically There’

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As a long-term crypto investor, I’ve seen my fair share of ups and downs in the world of digital currencies. The recent AMA session with Charles Hoskinson, the founder of Cardano, was an exciting development that filled me with optimism for this promising project.

During a live AMA session from Wyoming, Charles Hoskinson, the founder of Cardano, shared exciting advancements about the project and upcoming Chang hard fork. From his ranch, he discussed the continuous progress and achievements in this substantial development process for the Cardano blockchain platform.

Cardano Chang Hard Fork Is Almost Ready

Hoskinson began by looking back on the trials and triumphs of the previous years, acknowledging that it had been a grueling experience. He pointed out that despite encountering some setbacks, the community had effectively addressed these issues, most notably in the area of governance. The successful completion of all aspects of CIP 1694 was hailed as a significant milestone, having taken roughly two years to accomplish but pivotal for progressing Cardano’s infrastructure.

Hoskinson’s key announcement in the update centered around the completion of node 9.0, a crucial step toward the Chang hard fork. As he put it, “The Chang Hard Fork is almost here with node 9.0.” Preceding this update was version 8.2.2, and extensive work has been done to ensure compatibility and stability for node 9.0. The new node carries a release tag and is predicted to go live by the following week. However, Hoskinson issued a warning, “The upgrade signal might come as early as Monday or Tuesday, assuming no issues are found – touch wood.”

The Chang hard fork signifies a significant turning point for Cardano, marking the start of its Voltaire development phase which primarily concentrates on enhancing governance. Charles Hoskinson, the founder, is elated about reaching this milestone, which has been in the works for the past two years. Once the network node density attains roughly 70%, the hard fork will be activated, ushering in new governance features and increased community involvement in decision-making procedures.

Beyond the Chang hard fork, Hoskinson elaborated on the intricacies of advancing Cardano’s development. He highlighted the challenges that lie ahead during the Basho era, which focuses on enhancing the network’s scalability and optimization. This stage necessitates significant community involvement to strike a balance between on-chain and off-chain data management and other technical choices like sharding and adjustments to transaction processing.

Basho, which is the name given to the Cardano blockchain platform, encompasses numerous complexities. Decisions regarding traffic distribution between off-chain and on-chain, type of on-chain sharding, implementation of protocols like Leios, and adjustments to transaction processing fees, among other things, necessitate extensive dialogue. These choices depend on individual preferences within the Cardano community, including developers building decentralized applications (dApps) and those contributing to the ecosystem. Hoskinson emphasizes that no single person has the authority to dictate these matters for the thousands of individuals involved.

He likewise discussed the upcoming important landmarks on our roadmap, such as Plutus V3, Hydra, Leios, and Mithil. These projects represent promising contenders for the next governance ballot. The vote will essentially approve the final form of Basho and decide how resources will be distributed, marking a significant move towards a development model driven entirely by the community.

Pondering over the past decade, Hoskinson expressed, “Looking back, we’ve transitioned from a rigid and federated system to a flexible and decentralized one. We’ve advanced from static to dynamic, introducing top-tier staking, and developed an engaging smart contract platform boasting superior governance. The strategy and plan in place are truly commendable.” He rejoiced in the expansion of the community and their growing influence over the project’s direction, viewing it as a significant milestone in Cardano’s evolution into a leading blockchain solution.

As a researcher conducting an interview with Hoskinson, I encountered some challenges with the audio and visual quality of the connection due to subpar internet access at his location. However, I reassured him that we would resume our conversation from my office on Monday, allowing us to effectively address any lingering queries or points of discussion in a timely manner.

At press time, ADA traded at $0.377.

Cardano Founder Reveals Chang Hard Fork Is ‘Basically There’

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2024-07-08 13:11