The Cardano network is preparing for a significant transition with the upcoming Chang hard fork, marking the start of the Voltaire era. This change is facilitated by the release of node validator software version 9.1.0, which includes essential updates for the hard fork. Charles Hoskinson, Cardano’s founder, announced the readiness of the network for this transition, inviting Stake Pool Operators (SPOs) to upgrade.
Key Features of the Chang Hard Fork:
1. Mandatory Conway Genesis File: Unlike previous versions where the genesis file was optional, node version 9.1.0 requires it at startup. This is a crucial component of the network’s transition.
2. Bug Fixes and Enhancements: The new node version introduces various improvements, including a “query treasury” command for better financial transparency within the network.
3. Cardano Improvement Proposals (CIPs): The update includes support for CIP69, which standardizes metadata structures, and CIP119, which introduces a metadata label for transaction identification and processing.
4. On-Chain Governance: The Chang upgrade aims to implement CIP-1694, bringing decentralized decision-making to Cardano. This includes community-driven governance where ADA holders participate directly through on-chain consensus, and Delegate Representatives (DReps) play a critical role in guiding the network’s future.
Two-Phase Implementation
Chang Upgrade #1: This phase will introduce the initial governance features to Cardano, marking the start of the technical bootstrapping phase as per CIP-1694.
Chang Upgrade #2: This phase will fully activate the on-chain governance mechanisms, enabling complete functionality and the involvement of DReps in governance decisions.
The activation of the Chang hard fork is contingent on 70% of validators adopting the new node. This upgrade is also a tribute to Phil Chang, an influential figure in Cardano’s governance strategies, who passed away in 2022.
At the time of reporting, ADA is trading at **$0.4134**. The community eagerly awaits the completion of the necessary upgrades to fully transition into the Voltaire era, which promises enhanced governance and community involvement in the Cardano network.
