Cardano To Undergo 'Chang’ Hard Fork

(MENAFN- Yolo Wire) %Cardano (CRYPTO: $ADA) is about to undergo an upgrade known as the “Chang” hard fork that is the biggest enhancement to the cryptocurrency in more than two years.

The %ChangHardFork , which is scheduled to occur Sept. 1, will change the structure of Cardano’s main network, allowing users to participate in on-chain governance procedures.

Hard fork is a term that refers to major changes in a blockchain that underpins a cryptocurrency. Typically, hard forks render older versions of a blockchain obsolete.

Hard forks are usually undertaken to improve the experience for users and developers, or to fix problems with a %Blockchain .

The latest upgrade to Cardano will give it the ability to introduce on-chain governance features, enabling holders of the %Cryptocurrency to elect representatives and vote on improvement proposals as well as technical changes to the blockchain.

This governance change is similar to the voting rights given to shareholders of a publicly traded company.

CIP-1694 is the Cardano Improvement Proposal at the core of the Chang upgrade, which introduces various governing structures to the Cardano ecosystem, including a Constitutional Committee.

The Chang hard fork is being billed as the biggest change to Cardano’s blockchain since smart-contracts were introduced in 2021.

Founded in 2017 by %Ethereum (CRYPTO: $ETH) co-founder Charles Hoskinson, Cardano is today the 30th biggest cryptocurrency. Its price has risen 34% over the last 12 months to $0.34 U.S.

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