Intersect, the organization responsible for Cardano's blockchain development, has issued an urgent call for decentralized application (dApp) projects on the Cardano blockchain to expedite their preparations for the Chang Upgrade #1. According to Intersect's statement on August 17, over 80% of Cardano's stake pool operators have already updated to the latest validator node, 9.1.0. However, crypto exchanges and dApps on the network also need to upgrade and report their progress.
The success of the upgrade depends on exchanges reaching 85% liquidity on the new node. The Chang Upgrade, which is a step towards on-chain governance, is a key milestone in the Cardano ecosystem. It will introduce the Voltaire era, bringing Cardano closer to full decentralization. This upgrade will also enable ADA token holders to vote on protocol changes and improve smart contracts with new cryptographic features.
Despite these developments, the ADA token has not significantly reacted, trading at $0.3345 with a slight 0.8% increase in the last 24 hours. Over the past 30 days, ADA has seen a 21% drop, although it has improved by 24% year-to-date. The token saw a brief respite at the end of July after the U.S. SEC paused its allegations that ADA was an unregistered security in its legal battle with Binance.
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