Cardano (ADA) Jumps 5% As Major Governance Node Update Goes Live

Cardano (ADA) has seen a price jump of about 5% fueled by the introduction of Cardano node v9.0 in its bid to usher in a new decentralized governance era.

What Next After Cardano Node v9.0?

Intersect, a member-based organization for the Cardano ecosystem, took to X to announce the launch of the Cardano governance node.

In the Tuesday post, it was noted that the release of Cardano node v9.0 marks the completion of the primary development for on-chain governance. Additionally, it kicks off ecosystem-driven testing and adoption. Some core features accompanied the launch of this governance node. A few of them are support for Plutus v1 reference scripts and Plutus script signature support via CIP-69.

Cardano node v9.0 is here! This release wraps up the primary development for on-chain governance and kicks off ecosystem-driven testing.

Exciting new features include support for Plutus v1 reference scripts and CIP-69. A big step toward decentralized governance as outlined… pic.twitter.com/06DsiQu4RG

— Intersect (@IntersectMBO) July 9, 2024

Noteworthy, this is a milestone that is significant to realizing the decentralized governance envisioned in the CIP-1694 proposal. Ultimately, this launch and a few other recent moves that Cardano has taken are all geared towards providing smooth landing for the Chang Hard Fork upgrade.

While describing the upgrade earlier this year, Charles Hoskinson, the visionary founder of Cardano, stated that the Chang Hard Fork is just an upgrade but a strategic milestone in ADA’s journey toward complete community governance. Consequently, Intersect claims to have been pushing resources and efforts towards coming up with necessary infrastructure for the upgrade.

“Chang is a pivotal upgrade designed to implement decentralized governance within the Cardano blockchain. This process is deeply rooted in the principles proposed during the Voltaire age of Cardano’s roadmap and detailed in CIP-1694,” per Intersect’s published statement.

Cardano Node v9.0 Marks Arrival of Chang Hard Fork

Hoskinson had earlier assured Cardano community members that the Cardano node will soon arrive at v9.0. At the time, the Cardano team expected that the Chang Hard Fork upgrade will be finalized in June.

Now that Cardano node v9.0 has eventually arrived, it signifies that Cardano is ready for the Chang Hard Fork. Considering that the team noted the upgrade will be officially launched in Q1 2024, Cardano Chang Hard Fork may just be only a few weeks away.

The building anticipation for the upgrade, coupled with the recent governance node milestone have triggered an uptrend for ADA. According to data from crypto market tracker CoinMarketCap, ADA is currently trading at $0.3751. The digital currency earlier registered a 5% increase but after some fluctuations, Cardano’s 24 hours growth is capped at 3% surge.

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