Key Takeaways:
- Cardano ADA reclaims a top 10 position ahead of the Chang Hard Fork on August 27.
- The Chang Hard Fork introduces critical on-chain governance, enhancing Cardano’s decentralization.
- Cardano’s Node 9.1 update ensures network readiness, with 70% of SPOs successfully upgraded.
YEREVAN (CoinChapter.com) — Cardano ADA has surged back into the top 10 cryptocurrencies by market capitalization just days before the much-anticipated Chang Hard Fork. The upgrade, set to go live on August 27, has sparked renewed interest in the proof-of-stake network.
Cardano ADA Climbs 1.89%, Surpasses Tron as Chang Hard Fork Nears
Over the past 24 hours, Cardano ADA experienced a 1.89% price increase, allowing it to surpass Tron TRX in market cap. This movement comes as the Cardano community eagerly awaits the Chang Hard Fork. Despite being down 88% from its all-time high of $3.09 in September 2021, Cardano ADA’s recent gains show growing investor confidence.
Cardano’s Chang Hard Fork Sets Stage for On-Chain Governance and Decentralization
The Chang Hard Fork will introduce on-chain governance features to the Cardano network. To begin with, the first phase of the upgrade is crucial for decentralizing control within the ecosystem. Furthermore, Cardano developers have confirmed that the final governance features will be unlocked in the second phase of Chang.
In addition, in late July, Cardano released Node 9.1, the latest validator node version. This update was essential for the Chang Hard Fork, as it required 70% of stake pool operators (SPOs) to upgrade. Once this threshold was met, the network’s readiness was ensured. Moreover, dApps and exchanges are prepared for the upgrade, which helps reduce potential disruptions.
Cardano Gears Up for Chang Hard Fork with Final Preparations Underway
The Cardano community continues to prepare for the Chang Hard Fork. Jack Briggs, Intersect’s marketing and communications director, stated,
“Chang is so close now. Updates continue to flood in from across the ecosystem, and we’re regularly pushing changes to the hard fork readiness page.”
The Chang Hard Fork will bring significant changes to the Cardano ADA network. The initial phase will enhance governance capabilities, paving the way for a more decentralized future. As the August 27 launch date approaches, Cardano ADA’s performance remains a focal point for investors and enthusiasts.
