- Ongoing tests on SanchoNet ensure stability and functionality of governance mechanisms before the full-scale implementation.
- Partnerships in Argentina with universities and local governments aim to expand Cardano’s educational outreach and applications.
Cardano is poised for a critical system update with the upcoming Chang hard fork, now officially set for September 1, 2024. This schedule was established by Intersect, a community group within the Cardano network, following a decisive meeting.
Originally slated for August 27, the hard fork was rescheduled to provide adequate preparation time for the ecosystem, particularly for exchanges and decentralized applications to make necessary adjustments.
The hard fork working group has reached consensus & agreed to upgrade mainnet on September 1st 2024!
A big thank you to all the work across the ecosystem – getting #ReadyforChang has been a huge community effort.
Join us for a special X Space as we cross the epoch boundary ⬇️ pic.twitter.com/8T8ti0tWFo
— Intersect (@IntersectMBO) August 28, 2024
This advancement signifies a major milestone in Cardano’s strategic plan, marking the adoption of community-driven governance. Such governance is integral to the final phase of Cardano’s roadmap, known as Voltaire, aimed at establishing a self-sustaining network through a democratic process involving all stakeholders.
Concurrently, ongoing testing on SanchoNet, a dedicated testnet launched in the third quarter of 2023, continues to ensure the stability and effectiveness of the new governance mechanisms. This testnet serves as a critical testing ground for the tools and procedures that will underpin the on-chain governance structure.
Moreover, Cardano has been expanding its educational and operational initiatives, particularly in Argentina.
Notable collaborations have been formed with significant educational institutions like the University of Buenos Aires and the Universidad Tecnológica Nacional, as well as with regional governments such as the province of Entre Rios.
These partnerships focus on enhancing the understanding of Cardano’s technology and exploring its practical applications in various local scenarios.
As the Chang hard fork nears, these efforts highlight Cardano’s commitment to careful planning and community involvement in its evolution.
The network is set to make strides towards achieving a decentralized and democratically managed blockchain ecosystem, enhancing its functionality and governance in ways that could set a precedent in the cryptocurrency world.
The current price of Cardano (ADA) is approximately $0.3547 USD, with a slight increase of 0.73% over the past 24 hours.
The trading range for today has been between $0.3499 and $0.3559 USD. Over the last 52 weeks, the price has ranged from $0.2376 to $0.8070 USD.
Cardano’s market capitalization stands at $12.756 billion, with a trading volume of about $299.03 million in the last 24 hours.
For a technical analysis of Cardano’s price movements, we would look into various indicators such as moving averages, RSI (Relative Strength Index), MACD (Moving Average Convergence Divergence), and trend lines to forecast potential price movements.
Based on current market conditions and historical data, Cardano appears to be experiencing consolidation within a narrow price range.
