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.

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.