Cardano announces new update for validators ahead of Chang hard fork launch.

Cardano Node 9.0 Update Prepares for Chang Hard Fork

Cardano blockchain network development team, which uses the native token ADA, has introduced a new version of the software for Node 9.0 validators. This release marks the final stage of preparation for the important Chang hard fork, aimed at increasing the project’s level of decentralization.

Transition to Voltaire Era

Cardano founder Charles Hoskinson stated that for a successful transition to the new software and conducting the hard fork, it is necessary for 70% of the network nodes to approve the update. The Chang hard fork will be the first milestone towards full decentralization of Cardano’s governance and will usher in the «Voltaire Era» — a new stage in the project’s development promising significant changes to the network’s governance system.

Introduction of DReps

As part of the CIP-1694 update, delegates-representatives (DReps) will be introduced in the network, elected by ADA token holders. These representatives will be responsible for developing the «Cardano Constitution,» which will serve as the basis for further network improvements. However, the DReps voting is not yet included in Node 9.0 and will only be implemented in version 10.0. The current release already supports the transition to the initial phase of CIP-1694.

Modernizing Blockchain Governance

Hoskinson noted that the Chang hard fork, presented in the roadmap for 2024, will introduce a new consensus mechanism that, in his opinion, will provide Cardano with the most modern blockchain governance, budgeting, and treasury systems.

Integration with Bitcoin Cash

In early May, Hoskinson proposed integrating Cardano with the Bitcoin Cash (BCH) network, which could make Bitcoin Cash faster and more efficient within the Proof of Work (PoW) consensus algorithm. This proposal received support from 69% of users on the X platform.

Market Performance

At the time of writing, ADA has dropped out of the top 10 cryptocurrencies by market capitalization, occupying the 11th place with a market cap of $13.3 billion. The current price of ADA is $0.3738, which is 1% lower over the past day and 9.4% lower over the past week. Year-to-date, the asset has lost 37.2%.