Cardano Set to Launch Chang Hard Fork with Exciting Governance Upgrades
By: Isha Das
Cardano, a prominent blockchain platform, is set to introduce its much-anticipated Chang hard fork on August 27, following a recent confirmation by the membership-based organization, Intersect. The decision, which was communicated in an August 20 post, is based on meticulous reviews of project progress, community feedback, and readiness updates from key decentralized applications (DApps). Stake pool operator (SPO) readiness was confirmed, although exchange liquidity remains a concern.
The implementation of the Chang hard fork is contingent on a final decision to be made on August 23. The proposed date of August 27 could shift if unforeseen issues arise, with September 3 being an alternative date. The Node 9.1 upgrade, a crucial step before the hard fork, has been widely adopted by the community, with 80% of SPOs already on board. However, only 34% of exchanges have followed suit, falling short of the 80% target.
The Chang hard fork, named after the late Cardano evangelist Phil Chang, represents a significant milestone for Cardano, ushering in the Voltaire era. This upgrade will enhance smart contracts through the introduction of the PlutusV3 cryptographic primitive, improve data security, and enable a more direct role for ADA holders in network governance. Founder Charles Hoskinson has highlighted the importance of this upgrade, envisioning Cardano as a decentralized global civilization with advanced governance mechanisms.
In addition to governance improvements, the upgrade will roll out in two stages. The first stage will introduce core governance features, marking the start of the technical bootstrapping phase outlined in CIP-1694. The second stage will expand these implementations, transitioning out of the bootstrapping phase and activating comprehensive governance features. Users are advised to update to Daedalus wallet version 6.0.0 to align with the changes brought by the Chang upgrade.
As anticipation builds around the Chang hard fork, Cardano has seen a significant price rally, with ADA rising 8% in the last 24 hours to $0.3701. The ADA price is currently approaching critical resistance and support levels, with the next key target being the $0.400 mark. The successful implementation of the Chang hard fork could further bolster Cardano's position in the blockchain industry.
