Cardano's 'Ban Lohsm' Hard Fork Approval Process Underway

Cardano's next protocol upgrade, 'Ban Lohsm' hard fork, has entered the mainnet on-chain governance process. According to a report by blockchain media U.Today, the upgrade is likely to be approved within two epochs if current voting trends continue. The proposal, submitted last week on epoch 637, initiates the hard fork process for upgrades within the same era. DRep approval rate stands at 62.76%, exceeding the 60% threshold, while stake pool operator (SPO) approval rate at 31.59% has not yet met the 51% requirement. The constitution committee has only one of seven members voting, needing five votes to meet the threshold, with six members yet to cast ballots. Approval could occur by June 28 or July 3, with implementation scheduled for July 3 or 8. Ecosystem readiness has advanced, with node version 11's block production share reaching 87% in epoch 639 and stable. Major exchanges have signaled completion, raising liquidity readiness to 77.37%. Other Cardano development projects, including the public testnet 'Musashi Dojo' for the scalability solution UrboRosae, launched this week. The testnet has moved from a research paper phase a year ago to a live prototype stage. Misil has passed the testnet to Terracon, which will advance to the next phase. Intersect coordinates this process, with the first phase of RealFi testnet set to launch July 6.