The Cardano (ADA) community received disappointing news as the highly anticipated Chang hard fork has been delayed. Charles Hoskinson, Cardano’s founder, announced on X that the launch originally scheduled for August 27 will be pushed back to allow additional time for exchanges, including Binance, to prepare. Hoskinson compared the delay to a rocket waiting on the launch pad, stating that some exchanges need more time to get ready for the upgrade.
The delay stems from the need for these exchanges to transition to the Node 9.1.0 version of Cardano’s software, a crucial step for the hard fork to proceed smoothly. The new tentative launch date for the Chang hard fork is September 1, 2024. This upgrade is expected to transform Cardano’s governance model, marking the beginning of the Voltaire era with decentralized governance and an on-chain voting system.
Despite the delay, the market reaction has been relatively positive. Cardano has maintained its market cap ranking above Tron and has seen a 4.08% increase in ADA’s price, reaching $0.3868. This suggests that investor confidence remains strong, and Cardano may soon test its $0.5 resistance level with potential long-term goals of hitting $1.
The Cardano team remains optimistic and committed to ensuring the upgrade’s success, addressing community concerns about previous delays caused by a DDoS attack. Stake Pool Operators (SPOs) and exchange liquidity are expected to meet the required thresholds before the new launch date.
August 2024, Cryptoniteuae