Cardano activates first onchain-governed hard fork as golden cross forms on hourly chart

V11 hard fork launches with onchain governance

Coinciding with the golden cross, Cardano reached a historic point in its network upgrades. Intersect, a key member-based organization supporting Cardano’s development, confirmed that the V11 (van Rossem) hard fork has officially gone live on the mainnet. This marks the network’s first-ever protocol upgrade approved exclusively through Cardano’s onchain governance.

The V11 hard fork is notable for introducing onchain voting by DReps (delegate representatives), alongside stake pool operators (SPOs) and the Cardano Constitution Committee (CC). The hard fork activates Protocol Version 11, allowing the Cardano community greater participation in protocol development and setting a precedent for future network upgrades.

Mini dictionary: Intersect is a member-based organization that plays a central role in Cardano’s development and governance, bringing together entities from the Cardano ecosystem to coordinate upgrades and community initiatives.

Explorer platform ‘cexplorer’ also reported smooth mainnet deployment for the V11 hard fork, indicating stable network operation.

Technical and protocol improvements

In addition to governance changes, the V11 upgrade includes enhancements to Plutus, Cardano’s smart contract platform, and updates to the Plutus Cost Model. The upgrade also prepares Cardano for the next development phase, known as the Dijkstra era, where the Ouroboros Leios consensus protocol will be introduced. Other additions include enhanced primitives, improved VRF key uniqueness, and updated reference input rules.

Mini dictionary: Ouroboros Leios is an upcoming consensus protocol for Cardano, designed to improve security and scalability by introducing new mechanisms for block production and transaction confirmation.

ADA price movement and key technical levels

At press time, ADA traded at $0.165, representing a 0.55% increase in 24 hours. Despite the short-term golden cross, ADA’s price has exhibited limited movement and remains below the daily 50-period moving average, which serves as a barrier for upward momentum.

The price has twice attempted to breach this daily MA 50 level in July, gaining initially but meeting resistance. This ongoing pattern has kept ADA within a stable range, unable to make significant advances.

A decisive break above the daily MA 50, currently at $0.168, is viewed as necessary for Cardano to regain bullish momentum and potentially target the daily MA 200 level, which stands at $0.256. Support is considered likely near $0.13 if downward pressure persists.

Cardano’s latest hard fork not only introduces protocol enhancements but also marks the first time a network upgrade has moved forward with full onchain governance approval, expanding community representation in decision-making and preparing the ecosystem for future developments.