Cardano’s Stake with Pride Outlines Key Conditions for the Chang Hard Fork
As Cardano prepares for the highly anticipated Chang hard fork, Stake with Pride, a prominent Cardano stake pool operator (SPO), has shed light on the three crucial conditions that must be met for this significant upgrade to occur.
According to Stake with Pride, the Cardano hard fork will proceed once:
1. 70% of SPOs upgrade to v9.1 (yet to be released) instead of v9.0
2. 7 ICC Councils generate new keys to replace the Genesis ones that are being phased out
3. Centralized exchanges (CEXes) and other ecosystem services update their ancillary systems to align with the new node version
— St₳ke with Pride 🌈 SPO & DRep (@StakeWithPride) July 11, 2024
Insights into the Chang Hard Fork
The first prerequisite for the Chang hard fork is the adoption of node version 9.1 by 70% of Cardano’s stake pool operators. This version holds essential features necessary for the successful execution of the hard fork.
With the introduction of the Voltaire phase, Cardano is set to enter a new era of decentralized governance. Once node version 9.1 is released, ADA holders will have the opportunity to engage in community-driven decision-making processes that shape the network’s future.
The second requirement involves the creation of new keys by the ICC councils to replace the original Genesis keys. This move signifies a shift towards decentralization by distributing governance responsibilities across the Cardano community.
Lastly, the upgrade of ancillary services by CEXes and ecosystem partners is crucial to ensure seamless integration and functionality post-hard fork. This proactive approach will maintain network stability and prevent disruptions in ADA trading and staking operations.
Cardano Prepares for Fork Transition
Amidst these developments, Cardano has introduced Node 9.0, indicating readiness for the upcoming hard fork. Charles Hoskinson, Cardano’s co-founder, emphasized the importance of SPOs testing and updating their systems in preparation.
Hoskinson remains optimistic about the impending upgrade, highlighting the advanced blockchain governance system that will accompany the Chang hard fork. Features such as decentralized voting and treasury withdrawals will empower the Cardano community to take control of the network’s future.
Additionally, the implementation of CIP-1694 will revolutionize Cardano’s governance structure, allowing ADA holders to directly participate in protocol changes and treasury management. This shift marks a significant milestone in Cardano’s evolution towards a community-driven network.
