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

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.