Cardano Approaches Crucial Chang Hard Fork: Key Milestone for Community Governance

• Cardano is approaching the Chang hard fork, a highly significant update for the proof-of-stake blockchain project.
• Currently, 39% of stake pool operators (SPOs) have upgraded to Cardano’s Node 9.1.0, released in July as a precursor to the major update.
• To activate the upgrade, at least 70% of SPOs need to adopt the new validator node version; more than half have already transitioned.

Cardano nears a pivotal transformation with the upcoming Chang hard fork, striving for advanced governance and community control.

Progress and Adoption of Node 9.1.0

The blockchain ecosystem is eagerly observing as Cardano moves closer to implementing the Chang hard fork, with 39% of SPOs having already upgraded to the latest Node 9.1.0. Released in July, this version is essential for the upcoming enhancement. Full deployment requires 70% of SPOs to participate, and with over half already onboard, the community anticipates reaching this milestone soon.

Significance of the Chang Hard Fork

The Chang hard fork is heralded as a monumental event in Cardano’s development history. Promised by its founder, Charles Hoskinson, to deliver the most sophisticated governance system the blockchain has seen, this hard fork is set to initiate Cardano’s transition to a fully community-governed blockchain. It will first establish community governance, followed by enabling stake pool operators to vote on governance proposals and control treasury allocations.

Historical Context and Price Movements

Cardano has a track record of significant upgrades enhancing its functionality and security. The Vasil hard fork in 2022 improved the blockchain’s robustness, and the 2021 Alonzo hard fork introduced long-awaited smart contract capabilities. Despite the anticipation of the Chang hard fork, ADA’s price has seen a slight decline, down roughly 3% over the past 24 hours, reflecting market cautiousness amid the upgrade rollout.

Conclusion

Cardano is on the brink of a transformative update with the Chang hard fork, aimed at enhancing its governance and community involvement. As the update nears, with significant SPO participation, the blockchain is set for a milestone shift. This comprehensive upgrade paves the way for a more decentralized and community-led future, underscoring Cardano’s commitment to innovation and security.