Cardano’s Chаng Hard Fork is Almost Here – Here is What You Need to Know

Intersect has announced that Cardano’s Chang Hard Fork will take place on September 1, 2024, at 21:45 UTC.

This update is a significant milestone in Cardano’s shift towards full decentralization.

The decision to proceed was made after extensive discussions among key Cardano stakeholders, including Intersect, Emurgo, the Cardano Foundation, and Input|Output.

Initial concerns over liquidity—only 28% of exchanges were updated—have been addressed, with current readiness levels showing strong support. Around 92% of Stake Pool Operators (SPOs) and over 90% of exchanges are now prepared. Additionally, over half of the value locked in Decentralized Applications (DApps) indicates solid adoption.

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The hard fork, now confirmed, is designed to advance Cardano into the Voltaire Era, enhancing its governance capabilities. The update will introduce new features for on-chain governance, setting the stage for future upgrades. This includes a shift from specialized governance processes to a system where Cardano users can propose and vote on changes.

The new governance framework will require approval from a constitutional committee, delegated representatives, and SPOs, ensuring a democratic and community-driven decision-making process.

Alexander Stefanov