Cardano Founder Comes Up With Creative Hard Fork Name

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As a seasoned crypto investor with years of experience under my belt, I’ve seen my fair share of hard forks in the blockchain world. Each one brings its own unique challenges and opportunities. When I first heard about Charles Hoskinson’s latest suggestion for the Cardano community to name their hard forks after exotic marine creatures, I couldn’t help but be intrigued.

For individuals finding it challenging to remember the names of Cardano‘s hard forks, Charles Hoskinson, its creator, has proposed a novel moniker: Tasseled Wobblegong. The founder expressed his excitement about the community’s ability to name hard forks creatively.

A carpet shark species resides in coral reefs. Renowned for their stealthy hunting, they effectively camouflage themselves at the ocean floor and patiently ambush unsuspecting prey as it approaches.

As a researcher studying blockchain technology, I can explain that a hard fork is a significant modification to the protocol rules of a blockchain network that is not intended to be backward-compatible. An example of this occurred with Bitcoin in 2017, leading to the creation of Bitcoin Cash as a result of this split.

Cardano employed the Hard Fork Combinator (HFC) instrument for seamlessly integrating protocols following a hard fork occurrence. For instance, when Cardano transitioned to proof-of-stake with the “Shelley” hard fork in 2020, the chain still held blocks from the previous Byron network. The utilization of this tool allows for avoiding drastic alterations post-hard fork events.

Following Shelley in 2021, Cardano introduced the Mary hard fork, enhancing its decentralized finance (DeFi) capabilities. Simultaneously, with the Alonzo hard fork, the network gained the ability to create and execute smart contracts.

Currently, Cardano is about to undergo the Chang hard fork. This significant update introduces on-chain governance that empowers ADA holders with the ability to participate in decision-making processes directly or by delegating their voting power to representatives.

Tim Harrison from Input Output announced that the excitement surrounding the Chang upgrade is gaining more traction. In the early stages of implementation, key players like stake pool operators, exchanges, and decentralized apps are required to update to Node 9.0. This new version was made available by the blockchain’s development team last month. Approximately one-quarter of stake pool operators have completed the upgrade process so far.

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2024-07-21 13:47