The post Cardano SPO Reveals 3 Conditions Necessary for the Chang Hard Fork to Occur appeared on BitcoinEthereumNews.com.

Cardano’s Stake with Pride calls attention to three conditions necessary for the pivotal Cardano Chang hard fork to occur. The Cardano blockchain is on the verge of one of its most significant upgrades to date, the Chang hard fork. With discussions surrounding the update making headlines, Stake with Pride, a notable Cardano stake pool operator (SPO), recently outlined three critical conditions necessary for this upgrade to take place.  The Cardano hard fork will occur after these 3 things are met: 1. 70% of SPOs upgrade to v9.1 (which is not out yet), not v9.0 2. 7 ICC Councils create replacement keys for Genesis ones that get destroyed 3. CEXes and ecosystem service upgrade ancillary services. #Cardano pic.twitter.com/s94lyMYMiL — St₳ke with Pride 🌈 SPO & DRep (@StakeWithPride) July 11, 2024 Conditions Necessary for the Chang Hard Fork The first condition is that 70% of Cardano’s stake pool operators need to upgrade to node version 9.1. This version is pivotal because it integrates key features essential for the hard fork.  The upgrade aims to bring about the Voltaire phase, which will transition Cardano into a fully decentralized governance model. As of now, node version 9.1 is still pending release. The Voltaire era focuses on community-led governance, where ADA holders can vote on proposals that shape the future of the network. The second requirement involves the creation of replacement keys by seven ICC (Interoperability and Communication Committee) councils. These new keys will replace the original Genesis keys, which were distributed among Cardano’s founding entities, such as IOHK, Emurgo, and the Cardano Foundation.  The destruction of the Genesis keys is a significant step towards decentralization, as it eliminates centralized control and distributes governance power across the community. The final condition is that centralized exchanges (CEXes) and ecosystem services need to upgrade their ancillary services…

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Filed under: News - @ July 13, 2024 4:14 am