Cardano 'Cheng Hard Fork' Marks Historic Upgrade with Governance Features
The Cardano blockchain is set to undergo a significant transformation with the introduction of the "Cheng Hard Fork," which brings on-chain governance features. This upgrade marks a shift towards community-driven decision-making within the network, as reported by Cardano Feed. Initially scheduled for this week, it has been postponed to September 1st to allow exchanges like Binance time to prepare their systems.
Charles Hoskinson, founder of Cardano and Ethereum co-founder, humorously noted that deadlines spur action among those who might not take upgrades seriously at first. The new update aims to enhance transparency and user participation in governance processes. Currently trading at $0.3619 per ADA token, Cardano continues to draw attention due in part to Hoskinson's prominent public presence.
Arrest of Telegram Founder Pavel Durov Shakes Crypto Venture Capital Sector
Pavel Durov's arrest has sent shockwaves through the crypto venture capital sector, according to Krypto Magazin. Major investors had put money into digital tokens closely linked with Telegram’s messaging service; thus his detention could significantly impact trust in similar projects moving forward.
This development comes amidst other notable events such as ParaFi Capital raising $120 million from institutional investors including Theta Capital Management and Accolade Partners. Additionally, OpenSea received a Wells Notice from the SEC indicating potential legal actions against them for possible securities law violations.
TRON Surpasses Cardano and Toncoin: TRX on Success Path
Krypto Magazin reports that TRON ($TRX) has shown impressive performance recently, driven by high revenues from its SunPump platform. Since hitting a low point on August 5th, $TRX surged over 40%, overtaking both Cardano ($ADA) and Toncoin ($TON), making it now the ninth-largest cryptocurrency.
Toncoin suffered more than a 23% drop following Pavel Durov’s arrest while Cardano also shows long-term downward trends in its chart patterns. In contrast, TRON remains strong and may soon surpass Dogecoin ($DOGE). Nvidia’s upcoming Q3 earnings report is another key event expected this week that could influence AI-related cryptocurrencies like Artificial Superintelligence Alliance (FET), Render, or SingularityNET (AGIX).
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