Intersect, the organization overseeing the Cardano blockchain’s development, has recently issued an urgent call for decentralized application projects on the blockchain to accelerate their preparations for Chang Upgrade #1. This call stems from the need for crypto exchanges and decentralized apps to upgrade to node 9.1.0 and report their progress to ensure the success of the upcoming upgrade.
The Chang upgrade, set to introduce on-chain governance to the Cardano ecosystem, has been hailed as a crucial step towards establishing a “decentralized civilization” for millions of users. This upgrade will bring the network closer to becoming fully decentralized, ushering in the Voltaire era. With the ability for ADA token holders to vote on protocol changes, this upgrade marks a significant development in the evolution of the Cardano blockchain.
For stake pool operators on Cardano, the urgency to upgrade to the latest validator node, 9.1.0, has already been heeded by over 80% of operators. However, the success of the upgrade also hinges on crypto exchanges meeting a liquidity target of 85% on the new node. Decentralized application projects are also urged to fast-track their preparations for the upcoming changes to ensure seamless integration with the upgraded network.
Despite the urgent call from Intersect, the reaction from the Cardano token market has been relatively subdued. Currently trading at $0.3345, ADA has only seen a marginal 0.8% improvement in the last 24 hours. The overall trend over the past 30 days still reflects a 21% drop, although there has been a 24% improvement year to date. The recent development in the legal battle between ADA and Binance, with the U.S. SEC shelving allegations of ADA being an unregistered security, has provided some relief for the token.
The urgent call for decentralized application projects to expedite their preparations for Chang Upgrade #1 reflects the evolving landscape of the Cardano blockchain. With the introduction of on-chain governance and improvements to smart contracts, the network is poised for significant advancements in its quest for decentralization. Stakeholders are encouraged to promptly upgrade their systems to ensure a smooth transition and to actively participate in the upcoming governance changes on the network.
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