Cardano Soared 5%, This Is The Cause!

Cardano (ADA) jumped 5% (Photo; Doc. U.Today)

JAKARTA - Cardano prices (ADA) have increased by about 5% after the introduction of Cardano node v9.0, which marks a new era in decentralization governance.

The intersection, a member-based organization for the Cardano ecosystem, announced the launch of Cardano's governance node via platform X. In a post on Tuesday, July 9, it was announced that the release of Cardano node v9.0 marked the completion of the main development for on-chain governance. In addition, this begins testing and ecosystem-driven adoption.

Some of the core features included in the launch of this governance node include support for the Plutus v1 reference script and Plutus script signature support via CIP-69. This is an important step in realizing the decentralization governance proposed in the CIP-1694 proposal. Ultimately, this launch and several other recent steps taken by Cardano are all directed to prepare for the Chang Hard Fork upgrade smoothly.

Quoted from Coingape, Charles Hoskinson, founder of Cardano's visionary, stated that Chang Hard Fork is not just an upgrade but also a strategic milestone in ADA's journey towards complete community governance. The intersection claims to have encouraged resources and efforts to create the infrastructure needed for this upgrade.

Chang is an important upgrade designed to implement decentralization governance in Cardano blockchain. The process is deeply rooted in the principles proposed during the Voltaire era in Cardano roadmap and is described in CIP-1694, according to a statement published by Intersection.

Hoskinson had previously assured members of the Cardano community that Cardano nodes would soon reach v9.0. At that time, the Cardano team expected that the Chang Hard Fork upgrade would be completed in June.

Now that Cardano v9.0 nodes have finally arrived, this indicates that Cardano is ready for Chang Hard Fork. Given that the team noted that this upgrade will officially launch in Q1 2024, Chang Hard Fork Cardano may only be a few weeks away.

The increased anticipation for this upgrade, coupled with the recent achievement of governance nodes, has sparked an upward trend for ADA. According to data from crypto market tracker CoinMarketCap, ADA is currently trading at 0.3751 US Dollars (approximately IDR 6.094). This digital asset previously recorded a 5% increase, but after some fluctuations, Cardano's 24-hour growth was limited to a 3% spike.