Key Date for Cardano (ADA) Holders: Hard Fork Launch Imminent

• Chang Hard Fork set for August 27, promising community-driven governance.
• Over 70% of operators ready, but ADA lags at 12th by market cap.

Following a recent revelation shared by CNF, Cardano Founder Charles Hoskinson has launched a $1 million bug bounty challenge ahead of the Chang Hard Fork. According to an announcement from Cardano developer Input Output, the first phase of the Chang hard fork is expected to go live on the mainnet on August 27.

As per a recent tweet by Charles Hoskinson, he ignited the community in a rhetorical question,

Are you prepared for Chang? The rocket is on the pad. Governance is coming.

Are you prepared for Chang? Rocket is on the pad. Governance is coming https://t.co/DFCKjALuzI pic.twitter.com/zBjLorA3Sw

— Charles Hoskinson (@IOHK_Charles) August 20, 2024

Over 70% of Cardano’s stake pool operators have adopted Node Version 9.1.0, and key decentralized applications (dApps) are reportedly ready for the transition. The Chang upgrade is anticipated to bring community-driven governance, starting with an interim network constitution and a Constitutional Committee.

Despite the upcoming upgrade, ADA, Cardano’s native token, has recently fallen to 12th place by market capitalization, according to CoinGecko, despite the build-up around Chang.

Mirroring a recent CNF update, we discussed how long-term holders now hold nearly 40% of the ADA supply, demonstrating their strong confidence in the network. As of now, according to CoinMarketCap data, Cardano (ADA) is trading at $0.3512, having surged by 2.00% in the past day and 3.06% in the past week. See the ADA price chart below.