Intersect, the organization responsible for overseeing the development of the Cardano blockchain, has recently issued an urgent call for decentralized application projects on the blockchain to expedite their preparations for Chang Upgrade #1. This call to action aims to ensure the successful implementation of the upcoming upgrade and highlights the importance of swift adaptation by various stakeholders within the Cardano ecosystem.
The Chang upgrade, scheduled to introduce on-chain governance to the Cardano ecosystem, represents a crucial step towards the establishment of a “decentralized civilization” for millions of users. This upgrade is expected to usher in the Voltaire era, bringing the network closer to a fully decentralized system. With previous upgrade eras named after influential poets like Byron, Shelley, Goguen, and Basho, the upcoming Chang upgrade holds significant implications for the future of the Cardano blockchain.
While over 80% of stake pool operators on Cardano have already transitioned to the latest validator node, 9.1.0, Intersect emphasizes the need for crypto exchanges and decentralized apps on the blockchain to also upgrade to node 9.1.0 promptly. The success of the upgrade relies on exchanges achieving a target liquidity of 85% on the new node, underscoring the collective effort required to facilitate a smooth transition to the new protocol.
Implications for ADA Token Holders
The Chang upgrade will enable holders of the ADA token to participate in voting on protocol changes, enhancing community engagement and governance within the Cardano ecosystem. Moreover, the upgrade is poised to bring improvements to smart contracts, particularly with the introduction of the PlutusV3 cryptographic primitive to enhance data security on the network. Despite Intersect’s exhortations, the reaction from the Cardano token market has been relatively subdued, with ADA currently trading at $0.3345 and showing a slight improvement over the past 24 hours.
The urgent call for decentralized application projects on the Cardano blockchain underscores the importance of proactive participation and readiness for the upcoming Chang upgrade. By aligning stakeholders and encouraging timely upgrades to node 9.1.0, Intersect aims to ensure a seamless transition to on-chain governance and advance the decentralization of the Cardano ecosystem. As the Cardano community prepares for the next phase of development, the implications of the Chang upgrade are poised to shape the future of decentralized applications and governance on the blockchain.
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