Cardano recently announced a delay in the highly anticipated Chang hardfork to September 1, 2024. This delay was confirmed by Cardano founder Charles Hoskinson, who cited the need for platforms like Binance to have more time to prepare for the hardfork. While the Chang upgrade is ready, the decision to push the date allows for a smoother transition and implementation across various exchanges and decentralized applications.
Charles Hoskinson emphasized the importance of deadlines in driving urgency and action among stakeholders. He mentioned that by setting a new date for the Chang hardfork, it prompts exchanges and other platforms to prioritize the upgrade and ensure readiness. The delay acts as an opportunity for all participants to align their systems and processes in preparation for the significant changes that the Chang update will bring to Cardano’s Voltaire era.
Despite Stake Pool Operators reaching an 80% upgrade threshold to the 9.1.0 version, exchanges and decentralized applications lag behind in readiness for the Chang hardfork. The final go/no-go decision was set for August 23, with the mainnet launch targeted for August 27, 2024. Exchange liquidity, particularly on platforms like Binance, plays a crucial role in the successful implementation of the hardfork. As of the latest update, 83% of SPOs are on the required software version, while exchange liquidity stands at 46%, below the desired threshold of 85%.
In light of the delay, Charles Hoskinson reassured the community that nothing will hinder the Chang hardfork from proceeding as planned. The team at Cardano remains committed to the upgrade and is working closely with stakeholders to ensure a smooth transition to the new protocol. Despite the challenges posed by varying readiness levels, the ecosystem is optimistic about achieving the necessary milestones to set the stage for a successful hardfork on September 1, 2024.
Overall, the decision to delay the Chang hardfork showcases Cardano’s commitment to ensuring a seamless transition for all participants in the ecosystem. By allowing additional time for exchanges and applications to upgrade, the project aims to minimize disruptions and optimize the implementation process. The deadline extension serves as a strategic move to align stakeholders and maximize the impact of the upcoming upgrade on Cardano’s governance mechanisms and voting processes.