According to U.Today, Cardano, a leading proof-of-stake blockchain project, is approaching the significant Chang hard fork update. Currently, 39% of stake pool operators (SPOs) have upgraded to Cardano’s Node 9.1.0, which was introduced in July. This update is essential for the activation of the Chang hard fork, as at least 70% of SPOs need to adopt the new validator node version. More than half of the required SPOs have already made the transition.

The Chang hard fork is considered the most significant update in Cardano’s history, as stated by founder Charles Hoskinson. The update aims to transform Cardano into a fully community-governed blockchain. The first phase will focus on this transformation, while the second phase will introduce a governance system that allows SPOs to vote on governance actions and enables the community to control treasury withdrawals.

Initially, the Cardano hard fork was expected to go live in June. However, developers decided to introduce another node upgrade following a failed spam attack. Despite the excitement surrounding the new fork, the price of ADA has dipped by approximately 3% over the past 24 hours. Prior to this, Cardano implemented the Vasil hard fork in 2022, which enhanced the blockchain’s security and usability. In 2021, the Alonzo hard fork introduced smart contract functionality to the Cardano network.