Cardano (ADA) Price Surges Over 8% as Chang Hard Fork Nears

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As a seasoned analyst with years of experience navigating the dynamic landscape of cryptocurrencies, I find myself intrigued by the latest development in the Cardano (ADA) ecosystem. The launch of Node 10.1 ahead of the Chang 2 hard fork is a significant step forward for this promising smart contract network.

The widely-used blockchain platform Cardano (ADA) recently released Node 10.1 as part of a crucial update, in preparation for the forthcoming Chang 2 hard fork. This update will bring substantial enhancements to the network’s governance system, ultimately completing its transition to on-chain governance.

As a researcher, I’ve observed an impressive 8% increase in the value of Cardano over the past 24 hours, now sitting at $0.358. This surge is part of a broader cryptocurrency market uptick, which seems to be driven by speculation surrounding Donald Trump’s re-election as the US President for a second term.

Through a new update, known as the hard fork, we’re expanding on the groundwork established by the Chang 1 hard fork from last September. This update will enable ADA token owners to actively shape the protocol’s future via its governance structure, giving them direct influence.

Through assigning their voting rights to Delegated Representatives (DReps) or by acting as DReps themselves, ADA token owners can cast votes within the blockchain. Beyond decision-making power, the latest update before the hard fork brings several technical advancements, such as new Plutus features for more efficient smart contract operations and enhanced assistance for Stake Pool Operators.

For Chang 2 to be effectively launched, it requires the agreement of the Interim Constitutional Committee (ICC) and more than half of the pool operators. Once this condition is satisfied, a single-epoch validation phase begins, culminating in the complete deployment of the hard fork.

In order to facilitate a seamless transition, it’s recommended that Software Provider Operators (SPOs), DApps (decentralized applications), and cryptocurrency exchanges get ready for the update by ensuring their systems are compatible with Node 10.1.1. Intersect, the body responsible for managing Cardano’s governance structure, will keep everyone informed about the upgrade progress and hold question-and-answer sessions to address any questions from the community.

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2024-11-06 18:42