Cardano Validators Begin Migration In Preparation for Chang Hard Fork

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Cardano Validators Begin Migration In Preparation for Chang Hard Fork – Crypto News

Published

9 months ago

July 26, 2024

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The Chang hard fork aims to shift control from centralized entities to the holders.

Cardano shipped the new version on Thursday, paving the way for the activation of the Chang hard fork and Voltaire upgrade — which will shift governance power from centralized Cardano teams to ADA tokenholders, per the project’s roadmap.

“Cardano node 9.1.0 includes all the features that are necessary to be able to cross the upcoming Chang hard fork,” Cardano said.

Cardano’s node operators or “Stake Pool Operators (SPOs)” — entities that maintain Cardano nodes and validate transactions — are quickly adopting the new software, with roughly 17% of SPOs operating Node 9.1.0, according to PoolTool,

The Chang hard fork will initiate once 70% of SPOs have transitioned to the new node software. Transitioning SPOs to Node 9.1.0 will ensure the network’s stability prior to activating the new governance features.

A hard fork describes when a blockchain’s nodes migrate to a new version of the chain to the network’s software. Forks are a challenging process that requires coordination across an entire network, with dissenting users able to maintain the older version of a chain by continuing to run nodes for the outdated software — causing the network to “fork” in two.

Node 9.1.0 builds on the previous version, the July 8 Node 9.0, and contains patches for bugs and the Genesis file for launching the new chain.

Voltaire

The Chang hard fork aims to shift control of the blockchain from the centralized entities that have historically overseen the network’s development and governance — such as the Emurgo, Input Output Global, and the Cardano Foundation — to ADA holders.

Named after Phil Chang, an early Cardano supporter, this hard fork will usher in decentralized governance via Delegated Proof of Stake (DPoS) consensus, with node operators able to participate directly.

The initial phase of the Chang hard fork will introduce bootstrap governance. a trial phase designed to facilitate the transition to fully decentralized governance.

During this period, an Interim Constitutional Committee (ICC) will be formed to ensure that governance actions adhere to the principles outlined in Cardano’s Interim Constitution. As such, the ICC will have the power to intervene in governance.

Cardano expects Chang will enter its second phase by Q4 2024, marking the full transition to decentralized governance. This phase will introduce Delegate Representatives (DReps), who are individuals or entities elected by ADA holders to propose and vote on governance changes and request ADA delegations.

SPOs will also have voting rights, allowing them to vote on governance issues using the ADA delegated to them by network participants.

ADA is the 11th largest crypto by market capitalization, with a market cap of $14.7 billion, according to The Defiant’s price feeds.