Cardano (ADA) Postpones the Launch of the Much-Anticipated Chang Hard Fork to September 1

The Cardano (ADA) community was disappointed to learn that the much-anticipated Chang hard fork will no longer go live this month.

Cardano (ADA) Community Disappointed as Chang Hard Fork Launch Postponed

The much-anticipated Chang hard fork launch will no longer go live this month, a development that has left the Cardano (ADA) community disappointed. In an X post on August 2023, Input Output Global (IOG) founder Charles Hoskinson revealed that the team had to shift the launch to accommodate some cryptocurrency exchanges yet to get their “house in order.” Notably, Hoskinson mentioned Binance, among other centralized exchanges that are yet to reveal their support for the upgrade.

Likening the delay in launch to a rocket about to go into outer space, Hoskinson stated, “It looks like Binance and a few others need more time to get their houses in order, so the rocket is going to wait on the pad, another epoch for the weather to get better.”

With the launch date earlier slated for August 27, the development said it would secure the final “clearance” by August 23. It chose This timeline to decide whether to proceed based on existing realities. However, from Hoskinson’s update, it appears the concerned exchanges had not moved as quickly as expected to make the launch feasible.

The Chang hard fork is set to shift Cardano’s core governance model. For context, the Chang Hard Fork will revolutionize ADA and usher in Cardano’s Voltaire era. A crucial element of this includes the introduction of decentralized governance mechanisms and an on-chain voting system.

While some in the community have expressed concerns over the shift in date and a possible delay, Hoskinson guarantees that nothing will stop the upgrade to Voltaire. This suggests that Binance and the other centralized exchanges would have completed their move to the Node 9.1.0 version of the network’s software.

Some of the community’s concerns resulted from an earlier postponement of the Chang Hard Fork launch in June. On that occasion, a DDoS attack on the Cardano network caused the obstacle.

Hoskinson’s optimistic update that “nothing” can stop the upgrade has sold hope to community members. In particular, the Stake Pool Operators (SPO) functionalities and the pending liquidity issues will all be resolved before the new date in September.

Based on data regarding preparedness on the Chang readiness page, exchange liquidity remains below the halfway level at 46%, while only 83% of SPOs have upgraded to the Node 9.1.0 version. For the launch to happen, these figures must hit 85%, a task that needs to happen before the new deadline.

Meanwhile, the market has continued to react positively to the Chang hard fork update, with ADA’s price showing resilience amid the postponement news. At the time of writing, ADA’s price had increased by 4.08% over the last 24 hours, trading at $0.3868, and ranking above TRX in market capitalization following both assets’ recent shifts in market position.

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