YEREVAN (CoinChapter.com) — Cardano’s (ADA) ecosystem faces a significant deadline as Intersect, the organization managing the blockchain’s development, calls on decentralized application projects to accelerate their preparations for the upcoming Cardano Chang Hard Fork. This upgrade, critical for implementing on-chain governance, requires prompt action from all involved parties.
In a statement on August 17, Intersect reported that over 80% of Cardano’s (ADA) stake pool operators have upgraded to validator node version 9.1.0. However, the success of the ADA Chang Hard Fork depends on crypto exchanges and decentralized applications also updating to this node. Intersect emphasized the importance of these entities reporting their progress.
Cardano Node 9.1.0 Release Notes. Source: GitHub repository Exchanges Key to Cardano’s (ADA) Chang Hard Fork Success, Hoskinson Highlights Decentralized Future
Intersect stressed that exchanges are crucial to the ADA Chang Hard Fork’s success. The organization highlighted the need for exchanges to achieve 85% liquidity on the new node to ensure a stable network after the upgrade.
Cardano founder Charles Hoskinson described the Chang Hard Fork as a key step toward creating a “decentralized civilization” for millions of users. The upgrade will introduce on-chain governance, enabling ADA token holders to vote on protocol changes.
Cardano’s ADA Faces Price Decline Amid Chang Hard Fork Preparations and Regulatory Scrutiny
The ADA token has shown little immediate reaction to the push for the Chang Hard Fork. Currently, Cardano (ADA) is trading at $0.3324, a 0.54% decrease over the last 24 hours. However, over the past 30 days, ADA price has seen a 21.63% decline.
Cardano (ADA) 1-Month Price Decline. Source: CryptocurrencyPricesNow
At the end of July, ADA saw a brief price increase after the U.S. Securities and Exchange Commission (SEC) dropped allegations that the token was an unregistered security in its ongoing legal battle with Binance. Despite this, regulatory scrutiny remains a challenge for Cardano.
The Chang Hard Fork continues Cardano’s tradition of major upgrades, following previous eras like Byron, Shelley, Goguen, and Basho. The upgrade will bring enhancements to smart contracts, including the introduction of the PlutusV3 cryptographic primitive for data security.
Cardano Roadmap Phases. Source: Cardano Roadmap website.
The post Cardano (ADA) Chang Hard Fork: Urgent Push for Upgrade Compliance by Intersect appeared first on CoinChapter.
