Cardano
network’s
highly
anticipated
Node
9.0.0
has
launched
to
much
acclaim
on
July
8.
According
to
its
GitHub
document:
“Node
9.0.0
is
a
major
release
of
the
Cardano
node
that
contains
all
the
changes
that
are
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.”
Why
Node
9.0.0
is
important
for
Cardano
In
a
July
8
video
on
social
media
platform
X,
Cardano
founder
Charles
Hoskinson
emphasized
Node
9.0.0’s
importance.
He
explained
that
it
lays
the
groundwork
for
the
Chang
hard
fork,
significantly
altering
the
blockchain
network’s
structure.
Hoskinson
said:
“Node
9.0.0
basically
means
Cardano
has
the
best,
the
most
decentralized
and
I
hope
the
most
effective
decentralized
government
in
the
entire
cryptocurrency
industry.”
However,
Hoskinson
noted
that
Stake
Pool
Operators
(SPOs)
need
to
independently
test
the
new
node
and
upgrade
before
the
network
can
perform
the
Chang
hard
fork.
So,
with
at
least
70%
or
more
SPOs
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.
Chang
hard
fork
The
Chang
hard
fork
marks
the
culmination
of
a
multiyear
effort
to
transfer
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.
In
this
era,
Chang
will
introduce
Delegate
Representatives
(DReps),
elected
by
Cardano
token
holders.
These
representatives
will
draft
a
Cardano
Constitution,
becoming
the
network’s
supreme
governing
law.
Once
approved,
DReps
will
propose
changes
in
accordance
with
the
constitution.
Hoskinson
reflected
on
the
significance
of
this
move,
saying
it
would
help
Cardano
become
the
most
scalable
ecosystem
within
the
next
24
months
because
“governance
is
the
key
differentiating
feature.”
Mentioned
in
this
article
Go to Source
Author: Oluwapelumi Adejumo
