- Chang’s hard fork will soon be live on the mainnet next Week, barring setbacks
- Cardano has already passed the Chang threshold for SPO readiness, paving the path for fork activation.
It is important to note that the word “you” means “person”. Cardano Ecosystem is preparing for an important milestone, the Chang Hard Fork. This will enhance the network’s governance and performance. The Chang hard fork group is actually meeting today. proposed The hard fork implementation target dates.
Intersect, a Cardano educational resource that focuses on Twitter, announced in a tweet on X the tentative date for the mainnet production of Chang. Prior to this, a final decision regarding the hard fork is expected on Friday, August 23.
Technical team suggested 3 September, as an alternate ideal time for the hard-fork window if dates were not feasible.
Chang hard fork update
Chang Chang implements the Cardano Improvement Proposal (1694) to improve Cardano’s governance, allowing it to scale more easily. This proposal gives ADA holders a greater democratic voice in future Cardano development. Technically, the hard-fork will improve the overall throughput and efficiency of the Cardano network.
For the first hard fork, the desired thresholds are at least 70% of nodes upgrading to version 9.1.0 as well as 80% exchange liquidity in order to process and operate transactions. Cardano launched its first hard fork last week. met the first threshold after attaining node readiness.
Exchange readiness metrics Cardanoscan’s data shows that liquidity is still behind. At the time of publication, it was 34.8%. 21 exchanges have attained ‘Ready’ status to support the Chang hard fork while 19 others, including Binance, are still in the process of being so.
17 exchanges are still unable to make any significant progress, including Bybit, which has a share of exchange liquidity equaling 5.42%.
Technical Analysis of ADA/USDT
Cardano is likely to receive a welcome boost from the upcoming Chang fork, given that it has been displaced out of top-10 ranking based on its market capitalization.
You can also find out more about the following: dethroning of Cardano (ADA) by Tron (TRX) Earlier this year, ADA became the second cryptocurrency to be flipped within the past five months. It was overtaken by Toncoin in May.
In the lead up to Chang’s launch, optimism has returned around the network. For instance, market intelligence platform Santiment observed Cardano is experiencing the strongest positive sentiments of all this year, even though its price has been struggling.
The news of the Chang fork target dates has given ADA a slight boost in the spot market’s midweek action.
Cardano (ADA)As of press time, the price was $0.353, after an increase of 6.82% over the previous 5 days.
Moving Average Convergence Divergence showed an increasing upward momentum on the chart of 4 hours. The MACD cross-over above the Signal Line on 19th August indicated that the momentum had shifted in the favor of buyers.
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Source: ambcrypto.com