As an experienced financial analyst, I am closely monitoring the developments surrounding Cardano (ADA) and its highly anticipated Chang upgrade. The recent release of Cardano Node 9.0.0 is a significant step forward in this process, bringing us closer to the implementation of decentralized governance on the Cardano blockchain.
The anticipated Chang upgrade for Cardano (ADA) is progressing, signaled by the release of Cardano Node 9.0.0. This significant step brings the Cardano blockchain nearer to realizing one of its most ambitious upgrades yet.
Romain Pellerin, IOG’s CTO, celebrates a significant achievement on X, describing it as a “notable advancement” and a “pivotal moment”: “Brace yourselves, node community. Version 9.0.0 has been released. Prepare for the Chang upgrade. With Chang comes decentralized governance, empowering the Cardano community to vote and influence the network’s future directly on the blockchain.”
As a researcher studying the Cardano blockchain, I can tell you that an significant upgrade, known as Chang, is anticipated to take place by the end of July. This update is one of the most substantial in Cardano’s history. Recently, we’ve witnessed the release of a new node version, which is a pivotal move towards implementing the Chang upgrade. Cardano’s founder, Charles Hoskinson, has publicly acknowledged and celebrated this important milestone.
The history of Cardano’s upgrades has been markedly favorable, generating excitement for the upcoming Chang fork. Previously, in 2021, prior to a significant upgrade, ADA experienced a remarkable surge, climbing from $1.35 to $3.10 within a month – an increase of approximately 130%. At present, ADA has dropped slightly by 0.60% over the past day, trading at $0.372.
More on Cardano Node 9.0.0
Based on GitHub’s documentation, Node 9.0.0 marks a significant update to the Cardano node. This version incorporates all necessary modifications for the Conway ledger era. It introduces on-chain governance through CIP-1694, and provides support for Plutus v1 reference scripts as well as Plutus script signature functionality via CIP-69.
I’ve identified the initial node that can connect the two sides of the 9.0 hard fork boundary, both on the mainnet and long-term testnets like Preprod. This node only supports the introductory phase of CIP-1694 in operational settings (Protocol Version 9.0), but it doesn’t enable DRep voting or other governance actions yet (Protocol Version 10.0).
As an analyst, I’ve noticed that node version 9.0.0 lacks a legitimate Conway-era Genesis file for passing through the Chang hard fork. Unfortunately, this essential component won’t be available immediately and will require a minor adjustment to your system configuration upon its arrival.
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2024-07-09 16:11