Cardano (ADA) Chang Hard Fork Officially Scheduled for August 27th
- PHPzOriginal
- 2024-08-22 09:08:111224browse
Intersect, an organization dedicated to the Cardano ecosystem, has officially announced the timeline for the upcoming ADA Chang hard fork.
CoinChapter – LUCKNOW, India – Intersect, an organization dedicated to the Cardano ecosystem, has officially announced the timeline for the upcoming ADA Chang hard fork. This pivotal update is ready to roll out on the Cardano mainnet on Tuesday, August 27th.
According to the announcement, the Cardano (ADA) Chang hard fork working group has thoroughly reviewed the progress. It also took into account valuable community feedback and sentiment.
What’s The Current Status of Chang Hard Fork?
In terms of preparedness, the working group has achieved several notable milestones. One key success is that 80% of Stake Pool Operators (SPOs) are now running the required version 9.1.0 of the Cardano software, meeting the desired threshold.
However, the team has identified exchange liquidity as an area requiring further attention. Only 28% of exchanges have currently upgraded to the necessary version. The target for exchange readiness has been set at 85%.
Despite this, the Intersect team has observed an upward trend in readiness across various components of the Cardano ecosystem.
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.
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Governance Actions and Pre-Production Testing For Cardano’s Chang Hard Fork
In preparation for the Cardano (ADA) Chang hard fork, the working group emphasized the criticality of a comprehensive schedule of governance actions and signatures, which will commence four days prior to the main deployment. The team urged all stakeholders to finalize their preparations during this crucial phase.
Additionally, a pre-production Chang hard fork is scheduled for August 22nd, serving as a final test and adjustment before the main rollout on August 27th.
Charles Hoskinson’s Anticipation and Daedalus Wallet Update
In response to the impending Chang hard fork, Charles Hoskinson, the founder of Cardano, expressed his anticipation and the strategic importance of this upgrade. In a social media post, Hoskinson said:
Are you prepared for Chang? Rocket is on the pad. Governance is coming.
To align with the upcoming changes, Input Output, the developer company behind Cardano, has released a new version of the Daedalis wallet. The update to Daedalus 6.0.0 is essential for users to be able to operate within the post-Chang era of the Cardano network.
Two-Phase Chang Upgrade Implementation
The Chang upgrade aims to establish a minimum viable on-chain governance system as outlined in CIP-1694. The first stage, Chang Upgrade #1, will introduce initial governance features to the blockchain, initiating the technical bootstrapping phase. The second stage, Chang Upgrade #2, will further advance these implementations, effectively transitioning out of the bootstrapping phase and activating the comprehensive governance capabilities.
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