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ADA Cardano is about to usher in a major blockchain milestone
In a major development in the Cardano blockchain, Intersect has released its latest update that explains the upcoming van Rossem hard fork. This milestone will introduce version 11 of the protocol, bringing multiple enhancements, including Plutus performance optimization, improved ledger consistency, and node security enhancements. The update also adds several original features, unique VRF keys, and revises relevant rules for reference inputs.
What is the approval timeline?
Cardano is about to complete the governance process in the last few hours of Era 642, a critical period for approving hard forks. As a blockchain platform known for its focus on building robust and secure decentralized applications, Cardano adopts a development approach characterized by rigorous peer review. If approvals are not completed in this era, subsequent potential approval dates will be set for July 18 and July 23, with the July 18 deadline requiring special attention.
The approval process depends on whether certain thresholds are reached within the Cardano on-chain governance framework. To advance a hard fork, support must be obtained from delegated representatives (DReps), equity pool operators (SPOs), and members of the Constitutional Council (CC).
Does on-chain voting meet expectations?
Yes, the van Rossem hard fork has successfully exceeded the necessary on-chain threshold. DReps 'approval rating is 76.81%, well above the required 60%;SPOs' approval rating is 52.76%, exceeding the 51% threshold. Although the Constitutional Council has received four-fifths of the approval vote, a final vote or abstention is still needed. The committee plays a key role in Cardano's decentralized governance and is responsible for streamlining the protocol modification process.
As the vote draws to a close, the focus turns to a prioritization mechanism-hard fork approvals will take precedence over other governance actions, and other actions will be deferred until the results are determined.
The adoption of indicators is encouraging. Currently, version 11 of the protocol supports 93% of block production in the current era. In addition, the exchange readiness has reached 84.15%, exceeding benchmark requirements and demonstrating strong network support.
DReps exceeded the requirement with a support rating of 76.81%.
SPOs confirmed support with a support rate of 52.76%.
The Constitutional Council still needs one vote or abstention to fully ratify it.
93% of block production uses version 11 of the protocol.
Exchange readiness has reached 84.15%.
As a key player in coordinating the development of the Cardano protocol, Intersect announced that the hard fork working group has formally recommended advancing the approval process for the van Rossem upgrade.
"Members of the hard fork working group have formally recommended approval of the van Rossem upgrade," Intersect said, noting that key thresholds have been reached for block production and exchange readiness.
As the final steps approach, the hard fork is awaiting the final decision of the Constitutional Council, and pending governance activities will be put on hold until this requirement is met. This reflects Cardano's well-structured and well-organized governance practices.
