August 12, 2024 — Cardano (ADA) is on the cusp of a significant transformation as it gears up for the much-anticipated Chang Hard Fork. This upgrade, which marks the beginning of the Voltaire Era, is set to decentralize governance within the Cardano ecosystem, transferring decision-making power from IOHK to the community of ADA holders.
Over the past 24 hours, 72% of Cardano’s Stake Pool Operators (SPOs) have installed the latest Node 9.1.0 software, signaling their readiness for the upgrade. This development is crucial as it ensures compatibility with key components like GraphQL, Rosetta, and the Cardano wallet, positioning the network for a smooth transition.
The Chang Hard Fork is expected to roll out in phases, with part one introducing the Interim Cardano Constitution and Delegate Representatives, and part two focusing on treasury management and full decentralized governance. The hard fork is planned for August 17, 2024, with a secondary window on August 22, 2024, to accommodate any last-minute adjustments.
In addition to the hard fork, the network has seen advancements with the Hydra Head scaling solution, aimed at improving transaction efficiency. These upgrades underscore Cardano’s commitment to evolving its infrastructure and enhancing its scalability as it moves towards becoming a fully community-governed blockchain.
As the Cardano community looks forward to these changes, the network’s future appears poised for greater decentralization and innovation, reflecting the core principles that have driven its development from the beginning.
For those keeping an eye on ADA’s price, the cryptocurrency is trading around $0.35, with analysts closely watching how these upgrades might impact its market performance in the coming weeks.
