- Cardano (ADA) is nearing a significant milestone with its Node Version 9.1.0 upgrade, which is currently 69% complete.
- This upgrade is crucial for the upcoming Chang hard fork that will enhance Cardano’s on-chain decision-making processes.
- Once 70% of Cardano’s validators, or Stake Pool Operators (SPOs), have adopted the new node, the Chang hard fork can proceed.
Cardano’s network is on the verge of a crucial upgrade with the Node 9.1.0 update, drawing closer to the Chang hard fork—get the latest insights here.
Cardano’s Progress Toward the Chang Hard Fork
The current status of Cardano’s Node Version 9.1.0 is a pivotal moment for the network as it is 69% complete. This upgrade is instrumental for executing the highly anticipated Chang hard fork, which promises to significantly improve Cardano’s on-chain governance and decision-making abilities. The community is eagerly awaiting the final nod for this upgrade, which will be determined once 70% validator readiness is achieved.
Importance of Validator Readiness
The readiness of Cardano’s Stake Pool Operators (SPOs) is crucial for the network’s transition through the Chang hard fork. Currently, out of 3,110 stake pools, 69% have upgraded to the new node. Reaching the 70% threshold is imperative for the hard fork’s success, ensuring that the network is adequately prepared for this major upgrade.
Increased Market Activity for ADA
In addition to the technical advancements, Cardano’s native token, ADA, is witnessing a surge in market activity. Data from CoinGlass indicates a 30% spike in ADA perpetual futures trading volume over the past 24 hours, achieving a total turnover of $408.53 million. CoinMarketCap also reports a 5.54% increase in spot market trading volume, amounting to $337.77 million. Combined, these metrics underscore a substantial rise in trading interest, bringing Cardano’s total market turnover to approximately $1 billion.
Conclusion
As Cardano approaches the implementation of its Node Version 9.1.0 and the subsequent Chang hard fork, the network is poised for transformative changes in its decision-making capabilities. Validator readiness is on the cusp of meeting the required threshold, and ADA’s burgeoning market activity reflects growing investor confidence. This crucial period will be determinative for Cardano’s future, setting the stage for enhanced performance and broader acceptance across the blockchain ecosystem.
