Cardano

The Cardano (ADA) community was disappointed to learn that the much-anticipated Chang hard fork will no longer go live this month. In <a href="https://x.com/IOHK_Charles/status/1827011621455294743" rel="noopener noreferrer nofollow">an X post</a> by Charles Hoskinson, the Cardano Founder, the team needed to shift the launch to accommodate some exchanges yet to get their “house in order.” Notably, Hoskinson mentioned Binance, among other centralized exchanges that are yet to reveal their support for the upgrade
<h2 class="wp-block-heading" id="h-why-did-cardano-postpone-the-launch">Why Did Cardano Postpone the Launch?</h2>
Likening the delay in launch to a rocket about to go into outer space, Hoskinson stated, “It looks like Binance and a few others need more time to get their houses in order, so the rocket is going to wait on the pad, another epoch for the weather to get better.”
With the launch date earlier slated for August 27, the development said it would secure the final “clearance” by August 23. It chose This timeline to decide whether to proceed based on existing realities. However, from Hoskinson’s update, it appears the concerned exchanges had not moved as quickly as expected to make the launch feasible.
With the <a href="https://www.thecoinrepublic.com/2024/07/26/cardano-ready-for-the-chang-hard-fork-completion/" rel="noopener noreferrer nofollow">Chang hard fork</a> still on the launch pad, commentaries on X hold that the Cardano team will stay busy until the upgrade takes off.
<h2 class="wp-block-heading" id="h-new-launch-date-of-the-chang-hard-fork">New Launch Date of the Chang Hard Fork</h2>
The Cardano founder has already revealed a new launch date. Charles Hoskinson says the next Chang hard fork launch date to watch out for is September 1.
This upgrade will shift Cardano’s core governance model. For context, the Chang Hard Fork will revolutionize ADA and usher in Cardano’s Voltaire era. A crucial element of this includes the introduction of decentralized governance mechanisms and an on-chain voting system.
While some in the community have expressed concerns over the shift in date and a possible delay, Hoskinson guarantees that nothing will stop the upgrade to Voltaire. This suggests that Binance and the other centralized exchanges would have completed their move to the Node 9.1.0 version of the network’s software.
Some of the community’s concerns resulted from an earlier postponement of the Chang Hard Fork launch in June. On that occasion, a DDoS attack on the Cardano network caused the obstacle.
Hoskinson’s optimistic update that “nothing” can stop the upgrade has sold hope to community members. In particular, Stake Pool Operators (SPO) functionalities and the pending liquidity issues will all be resolved before the new date in September.
Based on data regarding preparedness on the <a href="https://docs.intersectmbo.org/cardano/cardano-hardforks-and-upgrades/chang-upgrade/chang-upgrade-1-readiness" rel="noopener noreferrer nofollow">Chang readiness page</a>, exchange liquidity remains below the halfway level at 46%, while only 83% of SPOs have upgraded to the Node 9.1.0 version. For the launch to happen, these figures must hit 85%, a task that needs to happen before the new deadline.
<h2 class="wp-block-heading" id="h-market-reaction-to-chang-hard-fork-update">Market Reaction to Chang Hard Fork Update</h2>
Despite the setback and news of the postponement, it has not had a negative impact on the market. Cardano remains above Tron in market cap ranking as both have flipped each other consistently over the past week.
Additionally, market data revealed that the <a href="https://www.thecoinrepublic.com/price-prediction/cardano/" rel="noopener noreferrer nofollow">ADA price</a> has increased by 4.08% to $0.3868 in 24 hours at the time of writing. If <a href="https://www.thecoinrepublic.com/2024/07/17/cardano-price-stagnates-will-ada-approach-0-50/" rel="noopener noreferrer nofollow">Cardano</a> continues on this positive bullish path, it might retest its $0.5 resistance level in the short term and hit the $1 milestone in the long run.
The post <a href="https://www.thecoinrepublic.com/2024/08/24/cardano-shifts-chang-hard-fork-launch-heres-why/" rel="noopener noreferrer nofollow">Cardano Shifts Chang Hard Fork Launch, Here’s Why</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.

Cardano Shifts Chang Hard Fork Launch, Here’s Why

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