TL;DR
- Launch Date Announced: Charles Hoskinson has officially announced that the highly anticipated Cardano Chang fork will launch on August 27, 2024, marking the beginning of the Voltaire era.
- Key Features: The Chang fork will introduce community-run governance and on-chain community consensus, allowing Cardano (ADA) holders to vote on proposals and shape the blockchain’s future.
- Significant Milestone: Hoskinson describes the Chang fork as the “most significant milestone in the history of Cardano,” enabling advanced governance systems and empowering the community to drive innovation and development.
Charles Hoskinson, the visionary co-founder of Cardano, has officially announced the launch date for the highly anticipated Chang fork. This significant upgrade is set to propel Cardano into its final developmental phase, marking a monumental milestone in the blockchain’s evolution.
Are you prepared for Chang? Rocket is on the pad. Governance is coming https://t.co/DFCKjALuzI pic.twitter.com/zBjLorA3Sw
— Charles Hoskinson (@IOHK_Charles) August 20, 2024
Cardano’s Chang Fork
The Chang fork, named in honor of Phil Chang, an early leader in Cardano governance, is the blockchain’s first hard fork. Scheduled for August 27, 2024, this upgrade will introduce community-run governance and on-chain community consensus. Cardano (ADA) holders will gain the ability to vote on proposals, shaping the future of the blockchain.
Hoskinson has highlighted several key features of the Chang fork. The upgrade will enable more advanced governance mechanisms, including proxy participation and treasury withdrawals.
These features will allow users to propose and fund projects within the Cardano ecosystem, fostering innovation and community involvement.
The Cardano Node will reach version 9.0, making it ready for the hard fork. The network is currently waiting for 70% of stake pool operators (SPOs) to install the new node. Once this threshold is met, the hard fork will push Cardano into the new age.
Community and Industry Impact
Hoskinson has expressed his excitement about the Chang fork, calling it the “most significant milestone in the history of Cardano.” He believes this upgrade will enable a “decentralized civilization” with millions of participants worldwide.
The introduction of advanced governance systems, annual budgets, and a treasury will empower the Cardano community to guide the blockchain’s future. As Cardano prepares for the Chang fork, the blockchain industry watches with anticipation.
At the time of writing, Cardano (ADA) is trading at $0.352, continuing its seven-day upward trend, gaining 2% in the last 24 hours, according to CoinMarketCap.
This upgrade not only marks the end of a significant chapter in Cardano’s development but also sets the stage for a new era of decentralized governance and community-driven innovation. With the official launch date set for August 27, 2024, the Cardano community is poised for a transformative journey.
