Cardano network’s highly anticipated Node 9.0.0 has launched to much acclaim on July 8. This major release contains all the changes needed for the Conway ledger era, including on-chain governance via CIP-1694, support for Plutus v1 reference scripts, and Plutus script signature support via CIP-69.
In a video on social media, Cardano founder Charles Hoskinson emphasized the importance of Node 9.0.0, stating that it lays the groundwork for the Chang hard fork, which will significantly change the blockchain network’s structure. Hoskinson believes that Cardano will have the most decentralized and effective decentralized governance in the cryptocurrency industry with the launch of Node 9.0.0.
Stake Pool Operators (SPOs) need to independently test and upgrade the new node before the network can perform the Chang hard fork. Once at least 70% or more SPOs have upgraded, a hard fork date will be set for the network to transition into Chang. Data from Cardanoscan shows that exchanges and stake pools are not yet ready for the hard fork as of press time.
The Chang hard fork marks the transfer of project ownership from Cardano Foundation, EMURGO, and Input-Output Global to the community. This move will transform the blockchain into a self-sustaining entity with features like on-chain voting and participant rights. Delegate Representatives (DReps) will be elected by Cardano token holders to draft a Cardano Constitution, becoming the network’s supreme governing law.
Hoskinson believes that this move will help Cardano become the most scalable ecosystem within the next 24 months because governance is the key differentiating feature. The Cardano network’s Chang hard fork is a significant milestone in the project’s development, as it aims to create a more decentralized and efficient governance system. With the launch of Node 9.0.0 and the upcoming Chang hard fork, Cardano is poised to further establish itself as a leader in the cryptocurrency industry.
