- 72% of Cardano’s SPOs have installed Node 9.1.0, signaling readiness for the Chang hard fork.
- Chang hard fork will initiate Cardano’s Voltaire Era, introducing decentralized governance.
- Bitfinex is prepared for the Chang hard fork, highlighting its ecosystem significance.
Cardano (ADA) is nearing the highly anticipated Chang hard fork which has been in the works for some time, and recent developments suggest that its release is closer than previously anticipated.
Stake Pool Operators Signal Readiness
Stake pool operators, responsible for maintaining the Cardano network, are ready for the upcoming hard fork. According to recent reports from CardanoFeed, approximately 72% of SPOs have now installed the latest Cardano Node 9.1.0 software. This update is essential for the Chang hard fork, marking a crucial step in the upgrade process.
Bitfinex, a major cryptocurrency exchange, has also made significant strides in preparing for the Chang hard fork. The exchange’s readiness underscores the significance of this improvement in the larger cryptocurrency ecosystem.
Transition to Decentralized Governance
The Chang hard fork is slated to usher in the Voltaire Era, a phase that would provide decentralized governance to the Cardano network. This change is critical because it will transfer responsibility for managing the blockchain from Cardano’s development firm, Input Output Hong Kong (IOHK), to the $ADA holders themselves.
This step towards decentralization is consistent with the broader industry trend, allowing Cardano to compete more effectively with other protocols that have already adopted decentralized governance.
ETA for the Upgrade
While an exact launch date for the Chang hard fork has not been confirmed, current projections suggest it may be implemented before the end of August. The rapid increase in SPOs’ adoption of the necessary software supports this timeline.
Just two days ago, 69% of SPOs had installed the Cardano Node 9.1.0, and this number has since risen to 72%. If this pace continues, full network readiness could be achieved within the next few weeks.
As the Cardano network inches closer to the Chang hard fork, anticipation continues to build within the crypto community. The successful implementation of this upgrade will mark a significant step forward for Cardano, further solidifying its position in the competitive blockchain landscape.
