As a seasoned cryptocurrency enthusiast and analyst with years of experience under my belt, I must admit that the upcoming Chang hard fork on Cardano has certainly piqued my interest. Having closely followed the development of this promising project since its inception, it’s fascinating to witness the progress they’ve made towards implementing community-driven governance.
According to Tim Harrison, who serves as Vice President of Community and Ecosystem Communications for Cardano‘s developer Input Output, the initial stage of the Chang hard fork is scheduled to activate on the main network by August 27.
On his social media platform, Charles Hoskinson, the founder of Cardano, commented that they seem to be ready for ‘Chang’. He also mentioned that a rocket is positioned on the launch pad and governance is approaching.
The final decision regarding the hard fork launch is expected to be made on Aug. 23.
A week ago, more than 70% of Cardano’s stake pool operators (SPOs) adopted Node Version 9.1.0, clearing the biggest hurdle on the path to Chang. According to Input Output, the exchange liquidity metric is also improving. Moreover, the leading decentralized applications (dApps) also appear to be ready.
As a crypto investor, I’m excited about Cardano’s upcoming transition to community-driven governance following the latest hard fork. In this process, an initial version of the network’s constitution will be rolled out, and an interim Constitutional Committee (CC) will be established during the first phase. Delegated representatives are anticipated to enter the picture during the second stage of the hard fork’s execution.
Currently, ADA, Cardano’s native token, has slipped out of the top 10 cryptocurrencies by market capitalization, as per U.Today reports. According to CoinGecko data, it is currently ranked 12th with a market cap of approximately $12.3 billion, placing it behind Tron and Dogecoin. This drop in rank occurred despite the buzz surrounding the Chang upgrade.
In early June, Hoskinson pitched the Chang hard fork as Cardano’s most significant milestone to date.
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2024-08-20 23:22