As a seasoned crypto investor with a keen eye for potential, I find myself increasingly intrigued by the recent developments in Cardano. The activation of the Chang 1 upgrade and the impending shift towards a more decentralized governance model under Voltaire is not only exciting but also reassuring.
Recently, Cardano implemented the Alonzo Hard Fork Compatibility (HFC) update, marking a significant step into an epoch of decentralized management. Charles Hoskinson, the brainchild behind Cardano, expressed his optimism and insights as the system advances towards a more community-controlled and autonomous governance structure.
The Chang update signifies the rollout of proposal CIP-1694, which represents a major step towards a more community-led and decentralized governance structure for Cardano, moving it into the Voltaire phase. This proposal outlines the transition plan for Cardano’s governance system from its initial entities, Input Output Global (IOG), the Cardano Foundation, and Emurgo, to the Cardano community.
With this transition, the centralized Shelley relays identified by their DNS names are currently being phased out for deactivation.
As a researcher, I’m excited to share that our Bootstrap peers will embark on a significant journey in a few months, coinciding with the launch of Genesis. Fortunately, the Genesis rollout won’t necessitate a hard fork, ensuring a smooth transition.
— Charles Hoskinson (@IOHK_Charles) September 6, 2024
An X user and Cardano community member Samuel Leathers drew attention to this in an X post: “The end of an era. The last IOG centralized shelley relays on the DNS name are being shutdown today. @IOHK Charles. we can check off P2P being completed now. Next step is to get rid of the bootstrap peers with Genesis.”
The tweet drew the attention of Cardano founder Charles Hoskinson, who commented on the imminent exit of bootstrap peers in the coming months after the Genesis upgrade, which requires no hard fork.
Hoskinson stated that the Bootstrap nodes will soon be going on a long journey, which is expected within a few months as we initiate Genesis. There’s no need for a hard fork during the Genesis rollout.
Ouroboros Genesis design update
In simpler terms, Ouroboros Genesis is a collection of enhancements made to the existing Ouroboros protocol that includes protective measures to secure network nodes, especially when they are newly added or back online after a break. This update will allow for the retirement of initial peers, thereby promoting a more decentralized approach for synchronizing nodes within the network.
The Ouroboros mechanism serves as the foundation for the Cardano blockchain’s operation. As Cardano continues to advance and gain popularity, Ouroboros is progressing in accordance with its predetermined upgrade schedule.
In the coming year 2024, we can anticipate a significant advancement in the evolution of Ouroboros as the launch of Ouroboros Genesis is planned.
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2024-09-07 12:24