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- Cardano (ADA) is on the brink of the much-anticipated Chang upgrade, following the release of Cardano Node 9.0.
- This upgrade is a pivotal advancement, setting the stage for a new era of decentralized governance within the Cardano ecosystem.
- Charles Hoskinson, the founder of Cardano, highlighted the significance of this development with an enthusiastic public reaction.
Cardano’s latest node release marks a significant step towards decentralized governance and a new evolutionary phase for the blockchain.
Cardano Node 9.0: A Major Milestone
The newly released Cardano Node 9.0 is poised to play a crucial role in the forthcoming Chang upgrade. Slated for a late July release, this upgrade will usher in significant changes, including on-chain decentralized governance features, empowering the community to have a direct impact on the network’s future.
Community-Driven Governance through CIP-1694
With this upgrade, Cardano introduces CIP-1694, a protocol that facilitates on-chain governance. This protocol enables community members to vote on key decisions that will guide the blockchain’s evolution. While the current node release lays the foundation, further configurations and validation steps will be needed to fully activate the Chang hard fork.
Enthusiastic Reception from Charles Hoskinson
Charles Hoskinson, the founder of Cardano, celebrated the node release, drawing a parallel to a transformative moment from “Lord of the Rings.” His reaction underscores the importance of this development within the Cardano ecosystem and hints at the broader implications for the blockchain’s future.
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Historical Context and Market Reactions
Cardano’s history with upgrades has been notably positive. For instance, a major upgrade in 2021 led to a 130% increase in ADA’s price within a month. Currently, ADA is experiencing a modest uptick, trading at $0.37, up 0.8% in the last 24 hours. This historical context creates a buzz around the potential market impact of the upcoming Chang upgrade.
Bridge to the Chang Hard Fork
The release of Cardano Node 9.0 is pivotal in bridging the network’s current state to the Chang hard fork. The update supports mainnet and testnet environments, such as Preprod. However, it does not yet enable full governance actions like DRep voting, which are set to be activated in subsequent updates.
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Conclusion
The release of Cardano Node 9.0 is not just a technical update but a major step towards decentralized governance. As the community anticipates the finalization of the Chang upgrade, Cardano positions itself for potential rallies and significant market adoption. Stakeholders and investors alike should keep an eye on upcoming developments as the blockchain continues to evolve.
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