Cardano’s Next Major Upgrade to Launch on August 27

Tim Harrison, Vice President of Community and Ecosystem Communications at IOHK, the company behind Cardano, has revealed that the first phase of the Chang hard fork is likely to launch on the mainnet on August 27.

Cardano founder Charles Hoskinson hinted at the upcoming launch on social media, stating, “Are you ready for Chang? Governance is on its way.” The final decision regarding the hard fork’s launch is expected to be confirmed on August 23.

Last week, over 70% of Cardano’s stake pool operators (SPOs) upgraded to Node Version 9.1.0, marking a key milestone for the Chang hard fork. Input Output also noted improvements in exchange liquidity, and major decentralized applications (dApps) appear prepared for the update.

The hard fork will introduce community-driven governance to Cardano, with the first phase focusing on an interim network constitution and the formation of a temporary Constitutional Committee (CC). The second phase will introduce delegated representatives.

Meanwhile, Cardano’s native token ADA recently slipped out of the top 10 cryptocurrencies, currently ranking 12th with a market cap of $12.3 billion, according to CoinGecko.

This drop occurred despite the excitement around the Chang upgrade, which Hoskinson has called one of Cardano’s most significant milestones.