The post Cardano’s Chang upgrade nears: Can ADA break the $0.3 stagnation? appeared on BitcoinEthereumNews.com.

ADA has remained in the $0.3 price range. The number of holders has remained stable in the past months. Cardano [ADA] is approaching another hard fork, an event that often brings significant attention to a blockchain network as upgrades and new features are implemented. However, the current sentiment around ADA, as indicated by the steady number of ADA holders, suggests that there hasn’t been a significant increase in excitement or anticipation among investors and users.  Cardano prepares for Chang upgrade The upcoming Chang Hard Fork for Cardano, as reported by IntoTheBlock, is generating interest due to the significant changes it promises for the network. Historical data suggests that previous hard forks have triggered reactions in ADA’s price. Similar effects might be anticipated this time. One of the critical developments with the Chang Hard Fork is the introduction of community-driven governance. This shift aims to decentralize decision-making processes, allowing ADA holders more direct involvement in network governance. Such a move is designed to enhance democratic engagement within the ecosystem. This contrasts sharply with the existing centralized governance. Additionally, the hard fork will initiate a Constitution Convention event. This is a significant step in formalizing the governance and operational principles of the network. This convention will bring together various stakeholders to draft a constitution for Cardano. Also, this will create a foundational document that outlines the rights and responsibilities of all participants. Following the drafting phase, the proposed Cardano Constitution will be presented to the community, who will then have the opportunity to vote on this crucial document.  Cardano continues to struggle The price trend analysis for Cardano (ADA) indicated a challenging year with a notable downward trajectory. According to the price range chart, ADA has experienced a significant decline of over 41% since the beginning of the year.  As of this…

---

Filed under: News - @ July 7, 2024 11:06 pm