Cardano's Chang Hard Fork Nears Launch as 70% of Nodes Signal Readiness
- WBOYOriginal
- 2024-08-10 06:43:16455browse
The Cardano blockchain is on the verge of launching its long-anticipated Chang hard fork. This crucial upgrade has reached a critical milestone.
Cardano's Chang hard fork is nearing completion, with over 70% of network nodes signaling readiness for the new chain version. This crucial upgrade is set to launch soon.
Cardano's Chang Hard Fork Progressing Rapidly
Cardano's development team has been diligently working on the Chang hard fork for several months. Initially anticipated for June, the implementation of this upgrade has accelerated recently as node operators swiftly adopted the new 9.1.0 version.
This hard fork aims to enhance Cardano's decentralization and improve coordination among network nodes. Unlike previous upgrades, the Chang hard fork will not be centrally coordinated and will instead rely on individual nodes to implement the new features.
As the Cardano community eagerly awaits the upgrade, major cryptocurrency exchanges, such as Coinbase and Binance, are expected to update their nodes to support the new features. Several exchanges have already made the transition, signaling broad support for the upcoming changes.
With the news of the imminent hard fork, Cardano's native cryptocurrency, ADA, has experienced a significant price recovery, rising to $0.34.
Chang Hard Fork to Introduce Decentralized Governance, 1B ADA Treasury
One of the most crucial aspects of the Chang hard fork is its focus on governance. This upgrade will introduce a new constitution for the Cardano network, proposed by the Intersect organization and overseen by a seven-member interim constitutional committee, including three representatives from the Cardano community.
In a later stage of the upgrade, Cardano will implement a delegate system, allowing ADA holders to participate more actively in network governance. This transition will effectively transform ADA into a governance token, enabling users to vote on future proposals and play a direct role in shaping the network's direction.
Moreover, the Chang hard fork will introduce a substantial 1 billion ADA treasury. This fund could be utilized to support new projects and initiatives within the Cardano ecosystem. While this addition will slightly increase the circulating supply of ADA, its impact is expected to be minimal given the current circulation of over 37 billion ADA tokens.
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