Cardano targets Chang hard fork launch next week August 27 News โธ Cardano โธ Technology
Cardano targets Chang hard fork launch next week August 27
The Chang hard fork is designed to introduce significant changes to Cardano, including the introduction of decentralized governance.
2 min read
Updated: Aug. 21, 2024 at 10:33 am UTC
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Intersect, a Cardano membership organization, has proposed the Chang hard fork for implementation on Aug. 27.
In an Aug. 20 post, Intersect explained that its proposal was based on a thorough review of the project’s progress, community feedback, and the Chang hard fork working group’s sentiments. It stated:
“SPO-readiness was confirmed last week, the exchange liquidity metric is good and improving, and we have been receiving positive readiness updates from many leading DApps.”
However, the date remains tentative, pending a final decision on Aug. 23. Intersect noted that the timeline could shift if unexpected issues arise, with Sept. 3 as an alternative window.
This update follows the Node 9.1 upgrade, which marked the final step before the Chang hard fork.
According to Cardanoscan, 80% of stake pool operators (SPOs) have adopted Node 9.1.0, meeting the threshold required for the hard fork. However, liquidity is still a concern, with only 34% of exchanges adopting the upgradeโwell below the 80% target.
Chang hard fork
The Chang hard fork will introduce significant changes to Cardano’s software, rendering it incompatible with previous versions. So, the community’s meticulous planning for this upgrade is understandable, as it presents a key milestone in the blockchain network’s journey toward the Voltaire era.
Named after the late Cardano evangelist Phil Chang, the Chang upgrade will give Cardano holders a more direct role in the network’s governance. In this era, ADA holders can now actively participate in decisions that shape the platform’s future, marking a critical step in Cardano’s path to full decentralization.
Additionally, the upgrade will enhance smart contracts, particularly with the introduction of the PlutusV3 cryptographic primitive, which aims to bolster data security on the network.
Cardano founder Charles Hoskinson has emphasized the importance of this upgrade, calling it “the most significant milestone” in the crypto industry’s history.
He pointed out that the move will make,
“Cardano a decentralized civilization spanning the entire world with millions of residents. We’ll have the most advanced blockchain governance system, annual budgets, a treasury, and the wisdom of our entire community to guide us.”
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Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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