Cardano’s Chang Hardfork Draws Near
7/15/2024
The Cardano ecosystem stands before a transformative change that will be initiated by the Chang Hardfork, bringing decentralized governance to the blockchain. The community will have more say than ever and decide the path forward together in the age of Voltaire through a multi-tiered on-chain decentralized governance. With the recent release of Cardano Node 9.0, we are now Hardfork ready and will start the process of moving towards the Change Hardfork. This article will delve into Cardano’s upcoming Chang Hardfork Combinator Events, the changes they bring, and more.
What is the Chang Hardfork?
The Chang Hardfork is a two-part Hardfork Combinator Event that Cardano will undergo this year to transition to full decentralized governance as outlined in CIP-1694. This significant milestone, announced by Charles Hoskinson on July 9th, 2024, with the release of Cardano Node 9.0.0, marks the first steps toward activating Minimal Viable Governance. This node contains all the necessary changes for the Conway Ledger Era.
After two years of work and thousands of hours of discussions, workshops, and community collaboration, the Chang Hardfork will enable Cardano’s new tripartite government to carry out governance actions directly on-chain. The hardfork will also introduce Plutus V3, bringing significant performance upgrades over Plutus V2, EVM interoperability, and enabling Zero Knowledge Proof technology on Cardano. This article will delve into the Chang Hardfork, its timeline, how it benefits Cardano, and more.
“That’s the age of Voltaire in a box, that’s Chang Hardfork. We are fork ready” — Charles Hoskinson | Cardano Founder & CEO of IOG
Chang Hardfork Timeline
Now that node 9.0.0 has been released, the Cardano blockchain begins a community-driven journey toward the first of two Chang Hardfork events. Chang Upgrade #1 will deploy governance features to Cardano and enter the technical bootstrapping phase of the blockchain as described within CIP-1694. Chang Upgrade #2 moves the governance system out of the technical bootstrapping phase and unlocks the full and final features of Cardano’s on-chain governance, including DRep participation and full governance actions as specified within CIP-1694. The second Chang Hardfork upgrade will be released later this year. It is important to note that node 9.0.0 has been released without a valid Conway-era Genesis file, which will be needed to cross the Chang Hardfork. This will be supplied at a later date, necessitating a small configuration update.
The Cardano node 9.0.0 was performance tested and benchmarked prior to its release last week. Now that the node is released, the Cardano Preview testnet will soon be upgraded to node 9.0.0 and hardforked. Should there be no major issues or performance concerns during this testing period on the Cardano preview network, SPOs, Exchanges, and DApp developers will be asked to upgrade to node 9.0.0 on pre-production. This is expected to take place sometime in July, according to current estimates made by the Intersect MBO.
Parameters and a final genesis file will be prepared for node 9.01 before SPOs, Exchanges, and DApps within the ecosystem will be asked to upgrade to 9.01 on the Pre-Production network as well as on Cardano Mainnet. Once critical mass indicators are met with 70% of SPOs and 80% of Exchange liquidity upgrading to 9.01, the chain will then be hardforked on Cardano Mainnet. This is expected to occur sometime in early August. The progress of the chain’s readiness for the upgrade can be monitored at the following link: https://cardanoscan.io/changreadiness
Benefits and Impact of the Chang Hardfork for Cardano
The Chang Hardfork marks a significant milestone for Cardano, introducing comprehensive on-chain governance features that will enhance community participation and decision-making processes. These phased upgrades will empower Delegated Representatives (DReps), Stake Pool Operators (SPOs), and the Interim Constitutional Committee to collaboratively manage governance actions, promoting transparency, security, and efficiency. Additionally, the hardfork will debut Plutus V3, which offers substantial performance improvements, EVM interoperability, and supports Zero Knowledge Proof technology. Plutus V1 will benefit from CIP-0110, reducing transaction size and increasing throughput, while CIP-69 simplifies Plutus script development, enhancing flexibility and security for developers.
These enhancements are set to elevate Cardano’s capabilities and attract a broader user base. By addressing genesis key concerns that have caused hesitation among potential users, Cardano demonstrates its commitment to ongoing improvement and security. This will build trust among stakeholders and encourage skeptics to join the ecosystem, driving innovation and adoption, and establishing Cardano as a leading choice for blockchain projects.
With these advancements, Cardano tackles the blockchain quadrilemma, addressing scalability, decentralization, security, and governance. Unlike many blockchains that only focus on the trilemma (scalability, security, and decentralization), Cardano’s comprehensive approach positions it ahead in creating a fully decentralized and scalable platform. This holistic strategy not only secures the network but also ensures it is prepared for future challenges, setting a new standard in blockchain technology.
Conclusion
The Chang Hardfork marks a pivotal moment for Cardano, ushering in an era of full decentralized governance and advanced technological enhancements. With the activation of Minimal Viable Governance, the introduction of Plutus V3, and EVM interoperability, Cardano is poised to revolutionize on-chain governance and developer experience. This hardfork not only strengthens Cardano’s infrastructure but also cements its position as a leader in the blockchain space, promising a bright future for the ecosystem and its community. It will be interesting to see how Cardano develops with its fully decentralized governance coming into place soon.
This article is strictly for informational purposes and does not constitute a promotion or financial advice. Our aim is solely to provide users with the latest news and updates within the Cardano ecosystem.
We hope this helped you get caught up with the most recent crypto news. If you enjoyed the read make sure to follow TapTools on X and join our Discord.
