- Cardano (ADA) is gearing up for the significant Chang upgrade, with preliminary releases already in motion ahead of this landmark update.
- The Cardano Foundation has introduced new features in anticipation of the upgrade, enhancing functionalities and setting the stage for decentralized governance.
- According to Ktorz, the technical director at Cardano Foundation, the Ogmios bridge interface has been updated to version 6.5.0, making it compatible with the latest Cardano node release, among other enhancements.
Cardano’s Chang upgrade is set to revolutionize its blockchain governance, bringing decentralized decision-making to the forefront. Learn about the latest developments and releases as the community prepares for this major milestone.
Cardano Community Prepares for Chang Upgrade
The eagerly awaited Chang upgrade is poised to bring major changes to the Cardano ecosystem, fostering a shift towards decentralized governance. Set to be implemented in two phases, Chang 1 and Chang 2, this upgrade embodies the principles of the Voltaire era as stipulated in Cardano’s roadmap. These phases are intended to incrementally enable comprehensive on-chain governance, starting with technical bootstrapping and culminating in full community-driven protocol development.
Ogmios Interface Update
In preparation for the Chang upgrade, the Ogmios interface, a lightweight bridge for Cardano nodes, has released its version 6.5.0. This recent update ensures compatibility with the newly launched Cardano node 9.0.0. It also introduces a new ledger state query for the treasury and reserves, along with updated protocol parameters, including changes to reference script fees and maximum size constraints. The announcement from Ktorz highlights these enhancements, noting the interface’s readiness for Chang 1 and the evolving formula for transaction fee calculations.
Impact on Transaction Fees and Ledger State
The most notable change in this update is the revised formula for transaction fees. As Cardano progresses towards the full deployment of the Chang upgrade, script references will now be incorporated into the minimum transaction fee calculation. The release notes provide a detailed annex that outlines the new fee equation and includes plots that visualize its potential impact. These changes are designed to streamline the fee structure and enhance the economic incentives within the Cardano network.
Future Implications of Chang Upgrade
The Chang upgrade, particularly Chang 2, will remove the technical bootstrapping elements introduced in CIP-1694, paving the way for advanced governance functionalities. This will involve Delegated Representatives (DReps) and governance actions directly on the blockchain, allowing community members to have a significant influence on the network’s evolution. This move towards decentralized governance is expected to bolster Cardano’s position as a leader in blockchain innovation, promoting transparency and inclusivity in its protocol development.
Conclusion
The upcoming Chang upgrade represents a pivotal moment for Cardano, ushering in an era of decentralized governance and enhanced protocol functionality. As the community prepares for this transition, the recent updates to the Ogmios interface and changes to the transaction fee structure signify important steps towards this goal. With these preparations in place, Cardano is set to achieve a more democratic and resilient blockchain ecosystem, reinforcing its commitment to innovation and community empowerment.
