Get Ready for the Cardano Chang Hard Fork Coming Soon!
Intersect, a leading organization in the Cardano ecosystem, has officially announced the timeline for the upcoming Chang hard fork. This update is crucial for the ongoing development of the Cardano network, with a focus on enhancing protocol efficiency and governance mechanisms.
Cardano Chang Hard Fork Scheduled for August 27
The recent announcement by Intersect reveals that the Chang hard fork working group has been diligently reviewing the progress against established readiness thresholds. After considering community feedback and sentiment, the group is excited to propose the first set of dates for the Chang #1 hard fork on the production mainnet.
- The target for the mainnet hard fork is set for Tuesday, August 27
- A final decision on the go/no-go will be made on Friday, August 23
The group has made significant strides in preparedness, particularly with Stake Pool Operators (SPOs) where 80% are now on version 9.1.0, meeting the desired threshold. However, liquidity concerns remain as only 28% of exchanges have upgraded to the required version, with a target set at 85%.
Despite this, there has been an upward trend in readiness across various ecosystem components, with positive updates noted from leading DApps. As the hard fork approaches, stakeholders are urged to complete all necessary preparations to ensure a smooth transition.
Key Points:
- 80% of SPOs are on version 9.1.0
- Only 28% of exchanges have upgraded to the required version
- Positive readiness updates from leading DApps
A comprehensive schedule of governance actions and signatures will be vital in the lead-up to the hard fork, starting four days before the deployment. Stakeholders are reminded of the criticality of this phase, emphasizing the importance of timely upgrades and communication.
Additionally, a pre-production hard fork is scheduled for August 22 to serve as a final test and adjustment before the main deployment.
Amidst preparations, Cardano founder Charles Hoskinson has expressed his excitement and emphasized the strategic significance of the upcoming upgrade via social media. Input Output, the developer company behind Cardano, has also released a new version of the Daedalus wallet essential for the Chang hard fork.
Chang Upgrade: Dive Into the 2-Phase Rollout
The Chang upgrade signifies a significant milestone for Cardano, focusing on establishing a minimum viable on-chain governance system as outlined in CIP-1694. The rollout consists of two key phases:
Phase 1: Chang Upgrade #1
- Introduction of governance features to the blockchain
- Technical bootstrapping phase in line with CIP-1694
Phase 2: Chang Upgrade #2
- Advances in governance implementations
- Activation of comprehensive features of CIP-1694
- Enhanced DRep participation and broader governance actions
As the Cardano community eagerly anticipates these changes, it’s essential to stay informed and prepared for the forthcoming Chang hard fork. Don’t miss out on the opportunity to upgrade and be part of this significant evolution for Cardano!
Hot Take: Embrace the Cardano Chang Upgrade!
Intersect, a key member-based organization in the Cardano ecosystem, has announced the official timeline for the upcoming Chang hard fork, set to roll out on August 27. This pivotal update aims to enhance protocol efficiency and governance mechanisms, marking a significant milestone in the ongoing development of the Cardano network. Get ready to witness the evolution and embrace the changes brought about by the Chang upgrade!
By
By
By
By