An update on Cardano’s progress towards the Chang hard fork, including the latest statistics on stake pool operators （SPOs） and the impact on ADA’s price.
Points
- 39% of SPOs have updated to Cardano’s Node 9.1.0.
- At least 70% of SPOs need to adopt the new version for the upgrade.
- ADA price has dipped by 3% in the past 24 hours.
- The Chang hard fork will introduce community governance and a treasury voting system.
Progress Towards Chang Hard Fork
Cardano is making significant strides towards the Chang hard fork, with 39% of stake pool operators （SPOs） having updated to Cardano’s Node 9.1.0. The latest version of Cardano’s validator node was introduced in July, setting the stage for the crucial update.
https://x.com/cardanofeed/status/1818266621217210431
For the much-hyped upgrade to be activated, at least 70% of SPOs must adopt the newly released version of the validator node. Currently, more than half of them have already made this step.
Phase One: Community Governance
During the first phase of the implementation of the Chang hard fork, Cardano will transform into an entirely community-governed blockchain. This phase sets the foundation for increased decentralization and community involvement.
Phase Two: Governance System
The second upgrade will build upon this progress by introducing a governance system, allowing SPOs to vote on governance actions and enabling the community to control treasury withdrawals. This transition is expected to enhance the network’s robustness and adaptability.
ADA Price Impact
Despite the enthusiasm surrounding the new fork, the ADA price is in the red, dipping by roughly 3% over the past 24 hours. Prior to the latest upgrade, Cardano implemented the Vasil hard fork in 2022, which improved the blockchain’s security and usability. In 2021, Cardano introduced smart contract functionality with the Alonzo hard fork, further solidifying its position in the market.
解説
- Stake Pool Operator Update: The update to Node 9.1.0 by 39% of SPOs is a positive step towards the Chang hard fork, though more adoption is needed.
- Community Governance: The introduction of community governance and a treasury voting system will increase Cardano’s decentralization and resilience.
- Price Volatility: The recent 3% dip in ADA’s price reflects market volatility and investor caution ahead of the upgrade.
- Historical Context: Previous hard forks, such as Vasil and Alonzo, have significantly impacted Cardano’s functionality and market position.