Cardano’s Chang Hard Fork Nears Launch as Node Readiness Hits 70%

New Delhi (Coinchapter.com) – The Cardano blockchain is on the verge of launching its long-anticipated Chang hard fork. This crucial upgrade has reached a critical milestone, with over 70% of network nodes signaling readiness for the new chain version.

Cardano Chang Hard Fork Will Launch Soon

Cardano’s development team has been working on the Chang hard fork for months. Initially expected in June, the upgrade’s implementation accelerated in recent weeks as node operators swiftly adopted the new 9.1.0 version.

The primary goal of the Chang hard fork is to enhance Cardano’s decentralization and improve coordination between network nodes. Unlike previous upgrades, this hard fork will not be centrally coordinated, relying instead on individual nodes to implement the new features.

As the Cardano community awaits the upgrade, major cryptocurrency exchanges like Coinbase and Binance are expected to update their nodes to support the new features. Several exchanges have already made the transition, signaling broad support for the upcoming changes.

As news of the imminent hard fork spreads, Cardano’s native cryptocurrency, ADA, has experienced a notable price recovery. The token’s value has climbed to $0.34.

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Introduction of Decentralized Governance and 1B ADA Treasury 

One of the most significant aspects of the Chang hard fork is its focus on governance. The upgrade will introduce a new constitution for the Cardano network, proposed by the Intersect organization. A seven-member interim constitutional committee, including three representatives from the Cardano community, will oversee the formalized governance.

In a second stage of the upgrade, Cardano will implement a delegate system, allowing ADA holders to participate more actively in network governance. This transition will effectively transform ADA into a governance token, enabling users to vote on future proposals and play a direct role in shaping the network’s direction.

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The Chang hard fork will also introduce a substantial 1 billion ADA treasury. This fund could fuel new projects and initiatives within the Cardano ecosystem. While this addition will slightly increase the circulating supply of ADA, its impact is expected to be minimal given the current circulation of over 37 billion ADA tokens.

Cardano Is Growing At Slow Pace

Despitee the excitement surrounding the Chang hard fork, Cardano faces significant challenges. Critics have long pointed to the network’s slow development pace and limited adoption in the decentralized finance (DeFi) sector. With less than $200 million in total value locked, Cardano’s DeFi ecosystem lags behind competitors.

The platform has also struggled to attract widespread use of its decentralized applications and exchanges. These issues have led some to label Cardano a “ghost chain,” questioning its real-world utility and user base.