Key Date for Cardano (ADA) Holders: Hard Fork Launch Imminent
The much-anticipated Chang Hard Fork is set to launch on August 27, promising community-driven governance. Over 70% of the operators are ready, but ADA remains at the 12th position by market capitalization. Recently revealed by CNF and shared by Charles Hoskinson, founder of Cardano, a $1 million bug bounty challenge has been initiated ahead of the hard fork.
According to an announcement from Cardano developer Input Output, the first phase of the Chang Hard Fork will go live on Mainnet on August 27. In a recent tweet, Charles Hoskinson stirred excitement within the community with his rhetorical question: "Are you prepared for Chang? Rocket is on the pad. Governance is coming." More than 70% of Cardano stake pool operators have adopted Node version 9.1.0 and major decentralized applications (dApps) are reportedly ready for this transition.
This upgrade aims to introduce community-governed protocols, starting with a preliminary network constitution and a constitutional committee. Despite these advancements, ADA's native token recently fell to rank 12 in terms of market capitalization according to CoinGecko data.
A recent update from CNF highlighted that long-term holders now possess nearly 40% of ADA’s supply—demonstrating strong confidence in the network's future prospects. Currently trading at $0.3512 as per CoinMarketCap data, ADA saw increases of about 2% over several days and approximately 3% over one week.
Source: Cardano Feed
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