The post Cardano To Undergo Chang Hard Fork On September 1: Details appeared on BitcoinEthereumNews.com.

Intersect, a member-based organization within the Cardano ecosystem, has officially announced the scheduled implementation of the Chang Hard Fork on the Cardano mainnet, set to occur on September 1, 2024, at 21:45 UTC. The hard fork marks a major milestone for Cardano’s evolution towards a fully decentralized ecosystem. The decision to implement the Chang Hard Fork was reached during a comprehensive meeting involving key stakeholders from the Cardano ecosystem, Intersect, Emurgo, the Cardano Foundation, and Input|Output. “The group voted unanimously to initiate the hard fork known as Chang #1, which will take effect on the Cardano mainnet on September 1,” Intersect announced on Thursday, August 28 via X. The Chang hard fork announcement follows extensive deliberations and assessments within the hard fork working group. Last week, the hard fork was postponed because exchange liquidity remained a concern with only 28% of exchanges upgraded to the required version, with a target set at 85%. Now, as the group’s latest bulletin reveals, there’s a majority readiness across various sectors of the Cardano ecosystem. Stake Pool Operators (SPOs) are reported to have achieved 92% readiness by stake, demonstrating stable preparedness for several days leading up to the hard fork. Exchanges show over 90% readiness by liquidity, indicating robust support for the upcoming transition. The total value locked in Decentralized Applications (DApps) is over 50%, suggesting a strong adoption rate among app developers and users. Moreover, no severe issues have been raised, enhancing confidence in the smooth progression of the hard fork. The hard fork working group has committed to being on call to monitor the transition closely. Commenting on the importance of the Chang hard fork, Intersect writes: “This marks the first major, irrevocable step in Cardano’s journey from already being one of the most decentralized blockchains to a fully decentralized ecosystem where…

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Filed under: News - @ August 29, 2024 8:24 am