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The Cardano Chang hard fork is finally within reach, promising historic changes for the blockchain. Cardano founder, Charles Hoskinson, has teased significant updates and major changes set to take place for ADA.
Cardano To Record Historic Moment With Chang Hard Fork
In an X (formerly Twitter) post on June 9, Hoskinson announced the imminent release of the highly anticipated Chang hard fork. The Cardano founder declared that June will be the month that the Cardano Node will reach 9.0, signaling the network’s readiness for the new hard fork.
The Chang hard fork is an upgrade designed to empower the Cardano community with greater influence over the network’s governance. This update will grant ADA holders voting rights on proposals and introduce important tools and infrastructure to support the proposed governance changes, potentially enhancing the network’s decentralization and positively affecting the value of ADA.
Hoskinson disclosed that the forthcoming upgrade was contingent on 70% of Stake Pool Operators (SPOs) installing the new node, after which the hard fork will transition Cardano into the “Age of Voltaire.” He emphasized the remarkable nature of this development, declaring the Chang hard fork to be the most significant milestone in the history of Cardano and the broader cryptocurrency industry.
Hoskinson highlighted the major changes set to occur within the Cardano blockchain, noting that Cardano will transform into a decentralized civilization that will extend its reach to all parts of the world, attracting millions of residents. He expressed confidence that Cardano will have the most advanced blockchain governance system, annual budgets, treasury and the support and wisdom of its rapidly growing community to guide the ecosystem towards these changes.
Reflecting on Cardano’s developmental journey throughout the years, Hoskinson expressed his pride in the Cardano community’s efforts and achievements over the past decade. He disclosed that the community has successfully transformed Cardano into a nation set to significantly impact the cryptocurrency industry as a whole.
Moreover, he shared his optimism about the blockchain’s future, highlighting that Cardano brings hope to both the crypto industry and the world. Hoskinson concluded his statement by urging community members to continue their dedicated efforts towards improving the blockchain in the coming decade.
A New Era Of Change For ADA
A Cardano community member identified as ‘Rami,’ on X has expressed confidence in the Chang hard fork’s ability to reinvigorate the sluggish ADA market.
According to Rami, historically, ADA has witnessed substantial price increases triggered by past hard fork events. He disclosed that in the 60 days preceding Cardano’s previous four hard forks, ADA had undergone a significant change, surging massively against the broader market trends.
Based on this trend, Rami suggests that ADA could witness a significant boost in value due to the upcoming Chang hard fork. He mentioned that the upgrade is expected to bring improvements in Cardano’s smart contracts efficiency via Plutus V3, an upgrade which boosts Cardano’s smart contracts capabilities.
Additionally, the Chang hard fork is anticipated to introduce on-chain governance and distribute one billion ADA tokens to the community. Rami has also disclosed that the upgrade will usher in positive developments within Cardano’s network, including improved speed on Decentralized Exchanges (DEX), increased usage of stablecoins, and the potential for airdrops.
Featured image created with Dall.E, chart from Tradingview.com
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