The Chang hard-fork will eliminate governance on the blockchain, and Cardano will move towards full decentralization.
The progress of the Chang implementation will depend on exchanges and SPOs updating to the latest version of the code.
Most exchanges and SPOs have yet to adopt the latest version of the code, Node 9.1. 0, which was released on July 25.
Some cryptocurrency leaders consider community-led governance the pinnacle of #decentralization . #Cardano is approaching that milestone with the Chang update, which introduced autonomous features such as on-chain voting and community financial management.
The Chang hard-fork is an important step toward Cardano's vision of positive change with the #blockchain , but according to CardanoScan, stake pool operators (SPOs) and exchanges have been surprisingly slow to adopt the necessary updates.
The Chan hard-fork is an important milestone for Cardano. It transfers control of the blockchain from developers to ADA holders. The move is intended to promote decentralization by allowing token holders to influence the future of the project through community decision-making.
The release of Node 9.1. 0 on July 25, which laid the groundwork for the Chang #hard fork, was an important step. However, current data on the blockchain indicates that the release of this important update has been delayed. According to Cardanoscan's "Chang Readiness" page, 67% of exchanges have not yet started the update process, 27% are working on the update and only 5% - three exchanges - have completed the update. The lack of urgency among exchanges has resulted in a liquidity readiness of 0.7%.
According to Cardanoscan, a summary of the Cardano Chang hard fork shows that adoption has been slow.
Though only 26% (or 807 SPOs) of Cardano's 3,100 SPOs have completed the upgrade. To continue Chang's upgrade through the hard-fork combinator, 70% of SPOs must adopt the latest node software and the exchange's liquidity must exceed 80%.
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