Cardano (ADA) Excited For Chang Hard Fork Upgrade 🚀
Cardano (ADA) has experienced a notable surge in value recently, climbing nearly 15% amidst a wider recovery in the digital currency market. This increase in price coincides with the recent announcement of the official launch date for the highly-anticipated Chang hard fork upgrade for the blockchain network.
Intersect Reveals Schedule For Chang Hard Fork 🔧
According to reports from Bitcoinist, Intersect, a key member-based organization within the Cardano ecosystem, has disclosed that the Chang hard fork working group has evaluated progress and community feedback. This evaluation has paved the way for the formal proposal of the launch timeline for the upgrade.
- The mainnet hard fork is slated for Tuesday, August 27th.
- A final decision on the hard fork is set for early Friday, August 23rd.
This four-day lead time is designed to facilitate the necessary governance actions and approval for the hard fork to proceed smoothly.
Charles Hoskinson, the founder of Cardano, expressed his anticipation for the forthcoming upgrade, hinting at the governance changes to come.
Cardano Gears Up For Governance Shift 🔄
In preparation for the Chang hard fork, the developer company behind the Cardano blockchain, Input Output Global (IOG), has rolled out a mandatory update for the Daedalus wallet to version 6.0.0. This update is essential for users to transition into the “Conway era” following the implementation of the hard fork.
- Chang Upgrade #1 will introduce core governance features.
- The second stage, Chang Upgrade #2, will expand on these governance implementations.
These upgrades signal the beginning of a technical bootstrapping phase outlined in CIP-1694, setting the stage for more comprehensive governance features to be activated in the future.
As of the latest data, ADA has surged 8% in the past 24 hours, currently trading at $0.3701. The price is hovering just below its 200-day exponential moving average (EMA) at $0.3779, a key resistance level for ADA’s price movement.
Breaking above this critical indicator is crucial for ADA to reclaim the $0.400 level, which was last seen prior to the market downturn on August 5th.
On the downside, the token’s 50-day EMA at $0.3505 is providing strong support for ADA’s price on the daily ADA/USDT chart, preventing a retest of the $0.3110 level.
Hot Take: Cardano’s Chang Hard Fork Awaits 🌐
As Cardano gears up for the Chang hard fork upgrade, the community’s anticipation continues to grow. With the implementation of new governance features and technical advancements, ADA holders are eager to witness the network’s evolution unfold. Keep an eye on Cardano’s price movements leading up to the hard fork date, as market dynamics and investor sentiment play a crucial role in shaping ADA’s future trajectory.
Sources: Bitcoinist
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