As a seasoned researcher who has closely followed Cardano’s development for years, I am excited about the upcoming Chang hard fork, which represents yet another significant milestone in the project’s journey towards becoming a fully decentralized and community-governed blockchain. Having witnessed the successful implementation of previous hard forks like Vasil and Alonzo, I am confident that this update will further enhance Cardano’s capabilities and solidify its position as a leading proof-of-stake blockchain.
Cardano, one of the leading proof-of-stake blockchain projects, is inching closer to the Chang hard fork, which would mark one of its most crucial updates to date.
At press time, 39% of stake pool operators (SPOs) have updated to Cardano’s Node 9.1.0.
In July, the most recent iteration of Cardano’s validator node was unveiled, marking a significant milestone towards the anticipated major upgrade.
For the much-hyped upgrade to be activated, at least 70% of SPOs have to adopt the newly released version of the validator node. At this stage, more than half of them have already made such a step.
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According to U.Today’s report, Charles Hoskinson, Cardano‘s founder, has highlighted the upcoming Chang hard fork as a groundbreaking development for the platform. He emphasized that this update will bring about an advanced governance system for the blockchain.
In the initial stage of the Chang hard fork rollout, Cardano aims to metamorphose into a fully decentralized blockchain managed by the community. The subsequent enhancement will further this development by introducing a governing system. This system empowers Stake Pool Operators (SPOs) with the ability to vote on administrative actions and grants the community authority over treasury disbursements.
The anticipated launch of the Cardano hard fork was originally scheduled for June. Nevertheless, developers decided to implement an additional node update due to a unsuccessful spam assault.
Although there’s a lot of excitement about the latest fork, the Cardano (ADA) price has been on a downturn, dropping approximately 3% within the last 24 hours.
2022 saw the implementation of the Vasil hard fork by Cardano prior to its latest update. This enhancement significantly boosted the security and user-friendliness of the blockchain network.
In 2021, Cardano finally introduced smart contract functionality with the Alonzo hard fork.
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2024-07-30 17:41