Intersect, a Cardano member group, has suggested the Chang hard fork be put into action on August 27. In an August 20 update, Intersect shared that its suggestion came after carefully checking the project’s progress, listening to the community, and considering the views of the Chang hard fork team.
Intersect said,
SPO-readiness was confirmed last week, and the exchange liquidity metric is good and improving.
In the announcement, Intersect also revealed that the date is not yet known and depends on the decision on Aug. 23. It added that the schedule might change if something unexpected happens, and September 3 could be another possible time.
The Chang Hard Fork Will Introduce Major Updates To Cardano’s Software
This update comes after the Node 9.1 upgrade, which was the last move before the Chang hard fork.
According to a Twitter post, 80% of stake pool operators (SPOs) have chosen to use Node 9.1.0, which is enough for the hard fork to proceed. However, there is still a problem with liquidity since only 34% of exchanges have adopted the upgrade, far from the 80% goal.
The Chang hard fork will bring big updates to Cardano’s software, making it not work with older versions.
Intersect said this is why the community is carefully planning for this change because it is an important step as the blockchain moves toward the Voltaire era.
Named in honor of the late Cardano supporter Phil Chang, the Chang upgrade will let Cardano holders have a bigger say in how the network is operated.
Now, ADA holders can take part in making decisions that decide how the platform will be in the future, making an important move toward Cardano becoming fully decentralized.
Cardano Seeks To Become A Major Player In The Blockchain World
By adding PlutusV3, the upgrade will enhance smart contracts. PlutusV3 is a new tool created to protect the users’ data.
Charles Hoskinson, the founder of Cardano, said this is the biggest news in cryptocurrency history. He stated that it would improve the industry.
In a Twitter post, Hoskinson said the upgrade would make Cardano a global and decentralized community with millions of users.
He added that It will have the best blockchain rules, a treasury, yearly budgets, and the knowledge of everyone in the community to help guide it.
The upgrade will also help Cardano manage more transactions and turn items in the real world into tokens, which might help it grow later.
Even though the market is down now, Cardano’s decision to move to a decentralized system could be important as it aims to build investors’ trust.
The Chang hard fork will support the growth of Cardano’s platform.
As the network focuses more on building its community, its achievement will depend on how users interact with the platform.
