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Binance US, Binance's subsidiary in the United States, has highlighted Cardano and its present Voltaire Era in one of its recent posts. In a blog post, Binance US delves into the subject, "What Is Cardano (ADA)?"
This spotlight reflects the exchange’s recognition of Cardano and its commitment to keeping its users, especially beginners, enlightened about one of the major cryptocurrencies in the digital asset space, Cardano (ADA).
Binance US defined Cardano as a blockchain-based platform designed to be more than just a peer-to-peer payment system. Cardano’s goal and purpose is to support the development of applications and digital services through smart contracts and decentralized finance tools.
It further highlighted that Cardano has currently reached the fifth and final phase of its planned upgrade, a phase called "Voltaire," which aims to introduce community-run governance and turn the Cardano network into a self-sustaining ecosystem.
Anticipation builds for Chang upgrade
The spotlight comes as anticipation builds around the upcoming Chang upgrade, regarded as one of Cardano's largest upgrades in its history.
Chang is a pivotal upgrade designed to implement decentralized governance within the Cardano blockchain. This process is deeply rooted in the principles proposed during the Voltaire phase of Cardano’s roadmap and detailed in CIP-1694.
Tomiwabold OlajideThe upgrade will be implemented in two main phases, Chang 1 and Chang 2, each introducing crucial governance elements that will give the Cardano community a significant say in the protocol’s evolution.
Historically, major upgrades to the Cardano network have been preceded by upside price movements. For instance, before its previous major upgrade in 2021, ADA surged by 130% the month before. As the Chang upgrade approaches, the market is closely watching for similar trends.
At the time of writing, ADA was mirroring the general market downturn, down 3.86% in the last 24 hours to $0.436.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin
U.Today Editorial Team