The company in charge of Cardano development, Input Output Global (IOG), has updated its wallet as a prelude to the Chang hard fork. This is one of the most important changes before this network update that could be fundamental for the community. It is important to keep in mind that the Daedalus wallet represents the heart of the dynamics of this Blockchain.
As you might expect, this new wallet version contains the features needed to accommodate the anticipated Chang hard fork. The latter is expected to be executed on August 27th. However, everything depends on centralized exchanges (CEX) adapting to the new update for its success.
What you need to know about the Cardano wallet update
In a recent post on X, IOG offered the most important details of this new version of Daedalus known as 6.0. 0. They explain that the wallet was launched on the mainnet, in pre-prod and preview. It is worth noting that this update marks a complete change with respect to the previous version of the wallet.
Accordingly, Daedalus 6.0.0 is a mainnet wallet version compatible with the upcoming Chang hard fork. Thus, with the new features that allow for adaptability, this updated Cardano wallet version will be able to navigate the Conway era.
All of this means that all users of the wallet will have to update it. It is also worth noting that this version updated to node 9.1.0 corrects some elements such as the automatic update to improve access from Linux with AppArmor.
On the other hand, it should not be overlooked that this wallet remains a full node wallet for desktop computers only. In that sense, any version of Daedalus for mobile phones can be considered a scam. These pirated applications can be remarkably harmful, since they can steal users’ private keys.
⭐ OUT NOW: #Daedalus 6.0.0 for mainnet, preprod & preview.
Daedalus 6.0.0 is a mainnet release required to cross the upcoming Chang hard fork and operate in the Conway era.
⚠️It is mandatory for everyone #Daedalus users to upgrade to this version.
1/🧵 pic.twitter.com/33GP6UnFCf
— Input Output (@InputOutputHK) August 20, 2024
Hard Fork Chang just around the corner
The Chang hard fork is getting closer to coming to life. Recently, grassroots organization Intersect stated that most of the details and preliminary steps for the network upgrade are ready. It stresses that the Cardano ecosystem reached 80% SPOs in 9.1.0. In theory, this means that it has reached the hard fork threshold.
As mentioned above, this network upgrade is highly dependent on the attitude of the CEXs to be successful. At this point, notable progress has already been made, with 12 of the major Cryptocurrency trading exchanges having already completed the upgrade. In parallel, 19 of these platforms have reportedly indicated that they are in preparation.
On the other hand, this grassroots organization stressed that 85% liquidity is required from CEXs in the new node. With the latter, the stability of the entire network is ensured after the hard fork. The fact of the matter is that steps such as that of Daedalus (the wallet that updated Cardano) guarantee that its hard fork will be of great importance.
According to Cardano CEO Charles Hoskinson, this new version of the network is a historic breakthrough, potentially ushering in a “decentralized civilization” for millions of users.
Key points
- Wallet Update Daedalus: Input Output Global (IOG) has released version 6.0.0 of the Daedalus wallet, which is crucial for the upcoming Chang hard fork.
- Hard fork compatibility: The new version of Daedalus is designed to be compatible with the hard fork, allowing the wallet to operate in the Conway era.
- Dependence on exchanges: The success of the Chang hard fork depends on the support of the (CEX). 12 major platforms are ready and 19 more are in the works.
- Update Requirements: All Daedalus wallet users must upgrade to the new version to ensure the functionality and security of their assets, as mobile versions of Daedalus are considered scams.
- Historical significance of the hard fork: According to Cardano CEO Charles Hoskinson, the Chang hard fork is a historic step towards a “decentralized civilization,” marking the beginning of the era of community governance on Cardano.
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