Cardano (ADA) Poised for Price Surge as Chang Hard Fork Ushers in New Era of Decentralized Governance
- PHPzOriginal
- 2024-09-01 21:03:301106browse
The Chang Hard Fork is a significant event for Cardano, especially in the Voltaire era, which is aimed at decentralization of the governance.
Cardano (ADA) price might be preparing for a significant increase as several on-chain metrics and upcoming network developments indicate a bullish outlook. Here's a closer look at the key points highlighted in the text:
1. Cardano Chang Hard Fork: The Chang hard fork is a crucial event on the Cardano network, particularly in the Voltaire era, which focuses on decentralizing governance. This upgrade is the largest since 2021 and aims to facilitate a smooth transition to community governance of the blockchain.
2. Hard Fork in Two Stages: The upgrade will occur in two phases. The first stage begins on September 1 with the start of the 507th epoch. During this phase, a working group will be formed to monitor the progress and ensure all necessary thresholds are met. This group will analyze the ecosystem's readiness for the hard fork and can raise governance actions if needed.
3. ADA Holders to Govern Network: Once the first phase is complete and the working group approves the hard fork, Cardano will move to the final stage of decentralization. This will enable ADA holders to take over the network, marking the shift from centralized governance.
4. Enhancement in Governance Capabilities: The second phase of the upgrade, which will be deployed in three months, will integrate enhanced governance capabilities. These include decentralized representatives (DReps) and new governance models designed to increase the participation of Cardano Stake Pool Operators (SPOs). With these improvements, the blockchain will be ready to operate as a decentralized, community-owned platform.
5. Whales Accumulate ADA, Signaling Bullish Trend: Recent data reveals a strong accumulation trend among large Cardano holders, often referred to as "wholes." These investors have been increasing their ADA holdings rather than selling, indicating a bullish sentiment toward the token's future. Additionally, the positive net inflows into the market suggest that whales are preparing for the next price surge.
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