- Cardano Node 9.0.0 launched, prepping for the Conway Ledger era.
- Node update enables on-chain governance and supports Plutus scripts for Chang hard fork.
- Cardano’s decentralized governance involves the community in the roadmap and budget decisions.
During a live stream from Colorado on Monday, Charles Hoskinson, the creator of Cardano
The Node 9.0.0 update introduces crucial modifications necessary for the forthcoming era, such as on-chain governance enabled by SIP 1694, including Plutus V1 reference scripts, and the ability to support Plutus script signatures through SIP 69. Additionally, it incorporates Plutus version 3.0, which equips Cardano for the impending Chang hard fork by initiating the bootstrap phase of SIP 1694, a vital component for achieving decentralized governance.
Hoskinson detailed that the operators of Stake Pools (SPOs) will conduct independent tests on the updated node and make individual decisions regarding the timing of their upgrades. When the proportion of SPOs that have upgraded reaches 70% or higher, a date for the hard fork will be established, signifying the transition of Cardano into the Chang era. During this new phase, the Interim Constitutional Committee (ICC) and the newly chosen decentralized sovereign (DS) members will be introduced. These members will gain full voting rights after 90 days following the hard fork.
To reinforce the decentralized governance structure of Cardano, the community will participate in key decision-making processes, which include deliberations on the project’s roadmaps and yearly budgets. Additionally, ICC members are set to convene in Colorado to deliberate on their role within the larger governance framework. Hoskinson mentioned these points in his explanation.
“Everybody told us that building a decentralized government with people that you don’t know you’ve never met and you’ve never interacted with somehow can’t be as effective as a centralized one. But what we’ve done as an ecosystem is we’ve proven people wrong every single step of the way.”
In the final stage, the Cardano Constitution will be completed at a gathering in Argentina later in the current year, with international representatives in attendance. Following the adoption of the new Constitution, the ICC will undergo a re-election process. Meanwhile, IOHK, the development team responsible for Cardano, will dedicate its efforts exclusively to development tasks.
Hoskinson urged every project associated with Cardano to take on the role of delegated representatives. He finished by asserting that Cardano is progressing towards becoming the most decentralized and efficient governance framework within the cryptocurrency domain.
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