Cardano’s impending Chang hard fork marks a transformative upgrade, aiming to fully decentralize the blockchain. The upgrade is expected to bolster Cardano’s position in the cryptocurrency market.
Points
- Cardano’s Chang hard fork aims to fully decentralize the blockchain.
- Node 9.1.0 upgrade introduces on-chain decision-making features.
- Cardano Constitution to be formed by community members.
- ADA accumulation has grown since March despite short-term declines.
- Transformative upgrade expected to bolster Cardano’s market position.
Cardano is on the cusp of a transformative upgrade with the impending Chang hard fork. This upgrade will transition Cardano into a fully decentralized blockchain, following the recent debut of Node 9.0.0 and the election of the interim Constitutional Committee （ICC）. The community will soon conduct workshops and form the Cardano Constitution, resulting in a blockchain entirely governed by its users.
Node 9.1.0 Upgrade and On-Chain Decision Making
In late July, Cardano creator Charles Hoskinson confirmed the implementation of Node 9.1.0, with 63% of stake pool operators （SPOs） now using the updated version. This Node introduces on-chain decision-making features, enabling community-driven governance and enhancing the blockchain’s decentralization.
The Role of the Cardano Constitution
The formation of the Cardano Constitution is a pivotal step towards full decentralization. Community members will engage in workshops to draft the constitution, establishing a governance framework that ensures Cardano operates as a decentralized network.
ADA Accumulation and Market Position
Despite a 13.43% decline in ADA over the past week, accumulation has grown significantly since March. This indicates strong investor confidence in Cardano’s long-term prospects. The Chang hard fork and subsequent upgrades are expected to bolster Cardano’s position as the tenth-largest cryptocurrency by market capitalization.
Conclusion
The Chang hard fork marks a significant milestone in Cardano’s journey towards full decentralization. The Node 9.1.0 upgrade, on-chain decision-making features, and the formation of the Cardano Constitution highlight Cardano’s commitment to community governance. These developments are expected to strengthen Cardano’s market position and enhance its appeal to investors.
解説
- Decentralization: The Chang hard fork aims to fully decentralize Cardano, enhancing its governance.
- Node 9.1.0 Upgrade: Introduces on-chain decision-making features, empowering the community.
- Cardano Constitution: Community-driven governance framework to be established through workshops.
- Investor Confidence: Increased ADA accumulation since March reflects strong market confidence.
- Market Position: The transformative upgrade is expected to bolster Cardano’s position in the cryptocurrency market.