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On July 18, 2026, the Cardano network marked a significant milestone with the deployment of the Van Rossem hard fork. The main difference between this upgrade and previous ones lies in the mechanism by which it was implemented: the decision was made not centrally by a foundation or developers, but through on-chain voting involving delegates, stake pool operators, and the Constitutional Committee. This made Cardano one of the pioneers among major blockchains whose network received a full upgrade, initiated and governed directly by token holders, without external administrative control. This precedent changes the way we view key technical decision-making in decentralized systems.

The technical update, consistent with the Conway era, does not involve fundamental changes to the core architecture, but includes important improvements designed to improve network performance. It is based on five Cardano optimization proposals (CIPs), each addressing specific challenges that arose during the platform's operation. The most significant is CIP-133, which introduces multi-scale multiplication operations based on the BLS12-381 standard. This cryptographic approach enables the validation of thousands of digital signatures within a single block, which is critical for projects using zero-knowledge proofs, multi-signature wallets, and compliance tools that previously required significant computing resources off-chain. Additionally, a built-in array data type, optimized multi-asset transaction processing, accelerated list operations, and a native modular exponentiation function have been added. These innovations, according to engineers, should significantly reduce the cost of executing smart contracts on Plutus and increase the overall throughput of the scripting environment.

Security issues were also prioritized. A key change affected the rules for using a verifiable random number generator for node operators. Previously, staking pools could use the same cryptographic key network-wide, creating potential vulnerabilities. Now, each pool is required to generate a unique key linked to its identifier, significantly hindering attacks aimed at spoofing or compromising nodes. At the same time, ledger synchronization mechanisms were strengthened to ensure data consistency across all nodes, even under high transaction loads. The Intersect MBO, which oversaw the hard fork's development, closely monitored the readiness of stake pools and exchanges, and all participants demonstrated a high level of compliance with the new requirements.

The decision-making process for the hard fork became a separate chapter in the history of Cardano. Unlike previous upgrades initiated and overseen by Input Output Global (formerly IOHK), Van Rossem underwent a full cycle of on-chain democracy. Voting concluded on July 13, five days before activation, and the results were decisive. Delegated Representatives (dReps) approved the plan with a 77.63% majority, with a required minimum of 60%. Stake pool operators also supported the upgrade, albeit by a smaller margin – 52.7% of the votes, with a minimum of 51%. The Constitutional Committee voted nearly unanimously, confirming consensus within the governing bodies. Thus, for the first time, Cardano demonstrated the community's ability to independently initiate and implement a complex technical upgrade without direct developer involvement.

The market reaction to this event was muted. Immediately after the fork's activation, the ADA price declined slightly, and trading volumes decreased significantly, indicating a wait-and-see approach among short-term traders. However, Santiment data suggests a reversal of the trend among large investors. Wallets holding between 100,000 and 100 million ADA have increased their holdings in recent weeks to their highest level since 2023, controlling more than a quarter of all coins. At the same time, smaller holders are reducing their positions, creating an interesting imbalance: while retail investors are taking profits or exiting the asset, institutional players are increasing their stake, likely anticipating a long-term positive effect from technical improvements.