Intersect, the organization overseeing the Cardano blockchain’s development, recently issued an urgent call for decentralized application projects on the blockchain to hasten their preparations for Chang Upgrade #1. The organization highlighted the need for crypto exchanges and decentralized apps to upgrade to node 9.1.0 to ensure the success of the upcoming upgrade.
The upcoming Chang upgrade is set to introduce on-chain governance to the Cardano ecosystem. Cardano founder Charles Hoskinson has emphasized the significance of this upgrade, describing it as a crucial step towards establishing a “decentralized civilization” for millions of users. This upgrade will usher in the Voltaire era, which is expected to move the network closer to a fully decentralized system.
One of the key features of the Chang upgrade is enabling holders of the ADA token to vote on protocol changes. Additionally, the upgrade is expected to bring improvements to smart contracts, particularly with the introduction of the PlutusV3 cryptographic primitive to enhance data security on the network. However, despite Intersect’s exhortations, the Cardano token has not shown significant reactions in the market.
Currently, the ADA token is trading at $0.3345, reflecting a modest 0.8% improvement over the last 24 hours. However, over the course of 30 days, the ADA price has experienced a 21% drop, although there has been a 24% improvement year to date. The market performance of ADA was positively impacted when the U.S. Securities and Exchange Commission shelved allegations that ADA was an unregistered security in its legal battle with Binance.
The urgent call for decentralized apps on the Cardano blockchain to prepare for the Chang Upgrade #1 signifies a crucial milestone in the network’s evolution towards greater decentralization and governance. It is imperative for stakeholders, including crypto exchanges and decentralized app developers, to swiftly upgrade to node 9.1.0 to ensure a seamless transition and to fully leverage the benefits of the upcoming upgrades to the network.
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