Cardano （ADA） is on the brink of a significant transformation as it prepares for the Chang hard fork. This major upgrade will enhance the network’s decentralized governance, giving ADA holders a more active role in managing the blockchain.
Points
- The Chang hard fork will shift Cardano towards decentralized governance, reducing IOHK’s direct role.
- 72% of Cardano’s nodes are ready for the update, indicating strong network readiness.
- The upgrade will initiate the Voltaire Era, marking a new phase of decentralized management for Cardano.
- The hard fork is expected to be completed by the end of August 2024.
Cardano （ADA） is nearing a pivotal moment in its evolution with the upcoming Chang hard fork, an upgrade that promises to significantly enhance the network’s governance by decentralizing control. This transition will allow ADA holders to take a more active role in the management and growth of the Cardano blockchain, reducing the direct influence of IOHK, the company responsible for Cardano’s development.
The Chang hard fork is expected to be completed by the end of August 2024, with a substantial portion of the network already prepared for the update. As of the latest reports, 72% of Cardano’s nodes have installed the necessary Cardano Node 9.1.0 software, showcasing the network’s readiness for this significant upgrade. This rapid adoption rate highlights the confidence and commitment of the Cardano community in embracing this new era of decentralized governance.
The Voltaire Era, which will be initiated by the Chang hard fork, symbolizes Cardano’s shift towards a more decentralized and community-driven approach. This phase will empower ADA holders to have a direct impact on the network’s future, enabling them to participate in key decisions that will shape the blockchain’s development. Such a shift is not only critical for Cardano’s growth but also positions it as a leader in the broader movement towards decentralization in the blockchain industry.
One of the key aspects of this upgrade is the reduction in IOHK’s direct involvement in Cardano’s governance. By empowering ADA holders to take on more responsibilities, Cardano is setting the stage for a truly decentralized network where the community plays a central role in its direction and success.
In anticipation of the upgrade, ADA’s market value has seen a slight uptick,
reflecting positive market sentiment towards the hard fork. The completion of the Chang update will likely strengthen this trend, as the community’s enhanced role in governance could lead to more innovative and community-driven developments on the network.
解説
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Decentralized Governance: The shift towards decentralized governance is a significant step for Cardano, as it aligns with the broader goals of blockchain technology to eliminate centralized control. By giving ADA holders more power in decision-making, Cardano is not only enhancing its security and resilience but also fostering a more engaged and active community.
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Community Involvement: The successful implementation of the Chang hard fork will likely lead to increased community involvement in the network’s future. This could result in more diverse and innovative proposals, as a wider range of voices contributes to the blockchain’s development.
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Market Implications: The positive market response to the upcoming hard fork suggests that investors are confident in Cardano’s future. As the network becomes more decentralized, it is expected to attract more interest from those who value transparency, security, and community-driven governance in their blockchain investments.