According to U.Today, the proof-of-stake blockchain Cardano is on the verge of implementing the much-anticipated Chang hard fork. Recent data indicates that 63% of stake pool operators (SPOs) have upgraded to Node 9.1.0. This upcoming hard fork aims to transform Cardano into a fully decentralized blockchain, enabling ADA holders to participate in network governance.

The Chang hard fork will initiate the Voltaire era, which emphasizes decentralized governance. In the first phase, Intersect, a member-based organization within the Cardano ecosystem, will release an interim version of the Cardano constitution. An interim Constitutional Committee (CC) will be established to uphold this constitution, initially comprising seven members, three of whom will represent the Cardano community.

The second phase of Chang will focus on transitioning to a fully decentralized government by introducing delegated representatives. ADA holders will have the ability to delegate their voting power to these representatives, known as dReps, who will act in their interests. During this phase, the CC will expand beyond its initial seven members, with the Cardano community taking full responsibility for the blockchain's future development.

Despite a recent 2.2% decline in Cardano's (ADA) value over the past 24 hours, as reported by CoinGecko, the token could see a significant rally following the imminent upgrade. For the hard fork to be activated, at least 70% of SPOs must adopt the latest node version. Although ADA remains outside the top 10 cryptocurrencies with a valuation of approximately $11.5 billion, the Chang hard fork could serve as a bullish catalyst, potentially reversing recent trends.