Cardano (ADA) has released Node 8.0.0, a key update to its blockchain that lays the framework for the Conway ledger era (Protocol Version 9.0).
This upgrade is an important step forward for the Cardano ecosystem because it includes several important features that could affect the ADA token’s future.
The release of Node 8.0.0 marks the beginning of experimental support for the Conway era, also known as Voltaire. While this version does not yet include any Voltaire features, it sets the stage for their implementation by creating transaction formats and providing the ability to hard fork into the era.
Voltaire is anticipated to introduce crucial governance capabilities to Cardano, further decentralizing the network and empowering its community.
Node 8.0.0 Release
The release of Node 8.0.0 marks the beginning of experimental support for the Conway era, also known as Voltaire. While this version does not yet include any Voltaire features, it sets the stage for their implementation by creating transaction formats and providing the ability to hard fork into the era.
Voltaire is anticipated to introduce crucial governance capabilities to Cardano, further decentralizing the network and empowering its community.
Stake Pool Operators (SPOs) are advised to deploy Node 8.0.0 across all their nodes, as the update brings several enhancements, including improved fairness in mempool logic, new query commands for better visibility and control over the mempool, and the ability to define the network via an environment variable.
These improvements contribute to the better overall performance and functionality of the Cardano node, making it more accessible and efficient for users.
Cardano’s ADA Releases Node 8.0.0 Update, Bringing Major Improvements To The Network
It includes some additional CLI commands, bug fixes, and network configuration options. SPOs are recommended to deploy this version on all their nodes. This version of the Cardano node:
- Introduces the Conway era (Voltaire) as a developmental hard fork. Note: the node does not have any Voltaire features yet, this just prepares the way by creating the transaction formats and providing the ability to hard fork into the era.
- Adds a governance action for SPO polls (
cardano-cli governance poll) that the Cardano Foundation will use to conduct an SPO survey - Introduces a fairness improvement into the mempool logic
- Adds query commands to inspect metrics and data in mempool
- Allows the network to be defined via
CARDANO_NODE_NETWORK_IDinstead of needing to be passed in every CLI query - Adds more detailed output in the
query tipCLI command - Allows modification via configuration file of connection limits
- Provides versioned serialization formats for ledger
- Provides a ledger API
- Changes the tracking of deposits
It also includes some bug fixes and performance improvements.
IMPORTANT: On mainnet, P2P networking is only intended to be ran on a single relay at this time. Please continue to run any other relays with P2P disabled using the legacy topology.
Over 80% of Cardano (ADA) Holders Suffering Losses: Report
According to a recent report by IntoTheBlock, most Cardano (ADA) holders are currently facing financial losses. The report indicates that at least 80% of all ADA holders are holding the token at a loss, equating to 3.44 million addresses with a combined total of 26.85 billion ADA, equivalent to $9.48 billion at current market rates.
ADA Current Market Position
At the time of writing, Cardano trades at 0.37% and has a green Doji candle on the daily chart. This candle of uncertainty generated after a decline suggests that the ADA price may see a modest bullish retreat to retest the H&S pattern’s violated neckline.
The retest will confirm the price’s durability below the violated level of $0.36, giving traders the opportunity to short-sell. In ideal conditions, the breakdown of the H&S pattern can result in a fall of the same distance between the head peak and neckline.
The ADA price will fall by 18% and reach the $0.3 support level, which was reached in March. on addition, a new resistance trendline is seen on the daily chart, signalling the current correction phase.
As a result, a price break above this trendline would contradict the bearish analysis and assist buyers in regaining higher levels.
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Disclaimer – The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.
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