Cardano’s Intersect organization has shared an update on the readiness for the Chang Hard Fork, set for August 2024. This article provides details on the upgrade and its significance for the Cardano network.
Points
- The Chang Hard Fork is anticipated for August 2024.
- The upgrade brings the Cardano network into the Conway era.
- Key features include on-chain governance mechanisms and improved decentralized decision-making.
Intersect, a member-based organization for the Cardano ecosystem, recently shared an update on the readiness for the Chang Hard Fork, a crucial upgrade marking the transition into the Conway era. The first stage of the upgrade is expected in August 2024, provided the community is prepared.
Chang Upgrade Details: The Chang Hard Fork is a significant milestone in Cardano’s roadmap. It introduces on-chain governance mechanisms as part of CIP-1694, enhancing decentralized decision-making processes within the network. This upgrade addresses fundamental challenges and unlocks new potential for the Cardano ecosystem.
Upgrade Stages: The upgrade is divided into two parts to accelerate adoption. The first stage involves upgrading to node 9.0.0, which allows for early testing and identification of any issues. The second stage involves upgrading to node 9.1.0, which includes revisions to the Genesis file and requires participation from SPOs （Stake Pool Operators）, dApps, and exchanges.
Community and Ecosystem Readiness: For the Chang upgrades to activate, 75% of mainnet blocks need to be created by the final Chang node candidate. Currently, 25% of SPOs have upgraded to 9.0.0, with leading exchanges like Binance, HTX, and WhiteBIT showing significant preparedness. DApp developers, including Sundaeswap and USDM, are also preparing for the upgrade.
Explanation
- Chang Hard Fork: The upcoming hard fork is a critical upgrade introducing on-chain governance and improved decision-making processes.
- Upgrade Process: The two-stage upgrade involves early testing and final implementation, requiring participation from SPOs, dApps, and exchanges.
- Community Readiness: Successful activation of the Chang upgrade depends on widespread adoption and readiness across the Cardano ecosystem.