Cardano announces hard fork for September: see details

Cardano (ADA) is set to undergo its biggest hard fork yet, according to Charles Hoskinson, the cryptocurrency’s founder. This is the Chang upgrade, which has been delayed in the past but now has a final date: September 1st. The upgrade, according to the schedule, will take place at 6:45 pm on this date (Brasília time).

The Chang upgrade is part of the Voltaire era, the last of five eras according to the network’s roadmap. Previous eras focused on network infrastructure, but the Voltaire era will focus on governance and Cardano’s evolution.

To achieve this, the new era will provide all the necessary properties to transform Cardano into a self-sustaining system. Change will be the biggest upgrade that this network has ever implemented, as it aims to make Cardano the first blockchain to enforce maximum decentralization.

Cardano Chang Update

The Chang hard fork is named after Phil Inje Chang, a member of the network’s development team. If there are no delays, the upgrade will hit the network in less than 48 hours.

It will implement on-chain governance to allow ADA holders to participate in network decisions. In other words, the network will have decisions made by all those who hold ADA in their wallets.

After the upgrade, ADA holders will have voting power to elect a Delegate representative as well as cast their votes on future network decisions. In general, a hard fork brings complete changes to the blockchain to provide new features and functionalities, and the same is true here.

Therefore, the older or previous version usually becomes invalid or runs separately, without connection to the new one. ADA validators will have to upgrade their nodes if they want to continue participating in the network after the hard fork.

This update has been highly anticipated since the introduction of smart contracts in 2021. At the time, Cardano was expected to evolve by leaps and bounds, but the network ended up losing market share, and Chang hopes to improve this scenario.

Hard fork postponed

Previously, the Chang hard fork was scheduled to take place last Tuesday (27). However, the network postponed the plan until later due to some technical constraints. Hoskinson explained that the update needed more testing so that no errors would occur during the launch.

Hoskinson further explained that the delay was intended to allow cryptocurrency exchanges like Binance and others to prepare their systems for the update. Since this is an unsupported change, exchanges will need to update their systems to avoid issues at this time.

In this regard, Binance stated that it is already ready for the hard fork and offered to suspend withdrawals and deposits on the blockchain during the upgrade to avoid any technical complications.

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