Cardano Founder Charles Hoskinson Announces Chang Hard Fork is ‘Basically There’

Key Takeaways:

  • give 3 key takeaways ChatGPT Imminent Release of Chang Hard Fork: Charles Hoskinson announced that Cardano's node 9.0, crucial for the Chang hard fork, is nearly complete and expected to be released next week. This upgrade will mark the transition to the Voltaire phase, emphasizing new governance capabilities and community engagement.
  • Focus on Community Input and Scalability: Hoskinson discussed the importance of community input for future developments under the Basho era, which will focus on scalability and network optimization. He highlighted significant roadmap milestones like Plutus V3, Hydra, Leios, and Mithil as candidates for the next governance vote.
  • Reflecting on a Decade of Progress: Hoskinson reflected on Cardano’s evolution over nearly ten years, from a static and federated system to a dynamic, decentralized platform with strong smart contract capabilities. He emphasized the community’s growth and increasing control over Cardano's development.
Cardano, Cardano Founder Charles Hoskinson Announces Chang Hard Fork is ‘Basically There’
Cardano Founder Charles Hoskinson Announces Chang Hard Fork

YEREVAN (CoinChapter.com) — In a live Ask Me Anything (AMA) session from his ranch in Wyoming, Cardano founder Charles Hoskinson shared updates about the blockchain platform. He outlined the progress and the imminent release of the Chang hard fork.

Cardano Chang Hard Fork Announcement

Source: @CardanoFeed
Cardano Chang Hard Fork Announcement. Source: @CardanoFeed

Hoskinson Reflects on Platform’s Long Journey and Governance Progress

Hoskinson began by reflecting on the journey so far.

“It’s been a very long last few years,”

he said. Despite facing several challenges, particularly in governance, Cardano has made substantial progress. The completion of all elements of CIP 1694, which took about two years, was a notable achievement. This accomplishment is crucial for advancing Cardano’s infrastructure.

He acknowledged that the ecosystem had been “jammed up in a few things”. He emphasized the resilience of the Cardano community.

Cardano’s Node 9.0 Ready for Chang Hard Fork

Hoskinson highlighted the nearly complete node 9.0, essential for the Chang hard fork.

“What’s exciting about node 9.0 is, it’s the Chang Hard Fork. It’s basically there,”

he stated.

This new node follows version 8.2.2 and has been refined for compatibility and stability. The node is expected to be rolled out by next week. Hoskinson added,

“Monday or Tuesday the signal for the upgrade will come if nothing gets discovered – knock wood.”

The Chang hard fork will mark the transition to the Voltaire phase, focusing heavily on governance. Achieving a network node density of approximately 70% will trigger the hard fork. This milestone will introduce new governance capabilities and broader community engagement in decision-making processes.

Hoskinson Outlines Future Plans for Cardano Under Basho Era

Hoskinson discussed the future beyond the Chang hard fork, particularly under the Basho era. The Basho era concerns scalability and optimization of the network. He emphasized the need for substantial community input to balance various trade-offs between on-chain and off-chain data handling.

“Basho is a very multi-dimensional thing and it requires a lot of discussion about which direction and tradeoffs people want,”

Hoskinson elaborated on the complexities involved in moving forward. Some of the complexities include on-chain sharding and modifications to transaction processing. Significant roadmap milestones such as Plutus V3, Hydra, Leios, and Mithil are strong candidates for the next governance vote. This vote will ratify the final state of Basho and resource allocation. It will underscore the shift towards a community-driven development model.

Hoskinson Reflects on Cardano’s Decade-Long Evolution

Reflecting on Cardano’s journey, Hoskinson remarked,

“It’s been almost 10 years and when you reflect on it you say we’ve gone from a static and Federated system to a dynamic and decentralized system with best in class staking to a really compelling strong smart contract platform.”

He noted the community’s growth and its increasing control over the roadmap as evidence of Cardano’s maturation into a leading blockchain platform.

The AMA suffered some technical difficulties due to poor internet connectivity. Hoskinson promised to continue the conversation from his office on Monday.

At press time, ADA traded at $0.366.

Cardano Price Surge Following ETF Introduction

Source: CoinMarketCap
Cardano Price Surge Following ETF Introduction. Source: CoinMarketCap

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