Cardano (ADA) is set to launch the long-awaited Chang hard fork, with over 70% of nodes announcing their readiness. This milestone indicates that a fork aimed at improving decentralization and coordination among nodes may soon be announced.
Chang represents a significant update for Cardano, designed to enhance network decentralization without central oversight. It will rely on nodes running version 9.1.0, and its success depends on the broader adoption of these nodes. While some exchanges have already updated their nodes, the community is still waiting for upgrades from major services like Coinbase and Binance.
In the second phase of the hard fork, ADA will introduce a new governance model proposed by the Intersect organization, which includes a temporary constitutional committee composed of seven community representatives. This phase will also enable altcoin holders to engage more actively in governance, shifting from simple staking to proposing and voting on future changes.
Charles Hoskinson, the founder of Cardano, continues to develop the project with the vision of establishing a decentralized network that will eventually draft its own constitution. The total supply cap of the network is set at 45 billion ADA, with 1 billion ADA in the treasury to be allocated based on community votes to balance any potential dilution effects.