Cardano (ADA), the native cryptocurrency of the eponymous proof-of-stake network, has managed to return to the top 10.
Over the past 24 hours, ADA has surged by more than 5%, which made it possible for the cryptocurrency to surpass Tron (TRX) by market capitalization.
As reported by U.Today, Cardano's much-awaited Chang hard fork is expected to be launched on Aug. 27 after months of anticipation.
In late July, the network network finally became ready for the upgrade with the release of Node 9.1, the latest version of the validator node. It took a few weeks for at least 70% of stake pool operators (SPOs) to upgrade to the latest version of the node. As stated by Cardano developer Input Output, dApps, and exchanges also appear to be ready for the Chang hard fork.
Tomiwabold Olajide"Chang is so close now. Updates continue to flood in from across the ecosystem, and we're regularly pushing changes to the hard fork readiness page," Jack Briggs, Intersect's marketing and communications director, said in a social media post.
The first phase of the implementation of the much-anticipated hard fork will prepare the ground for bringing on-chain governance features to the Cardano network. The final features of decentralized governance will be unlocked during Chang's second phrase.
Even though the hype surrounding Changphase has managed to push the ADA price higher, the cryptocurrency is still down 88% from its record high of $3.09 which was achieved back in September 2021. Its current peak was achieved around the release of the Alonzo hard fork, which brought smart contracts to the Cardano network.
Arman Shirinyan
Dan Burgin
U.Today Editorial Team
Vladislav Sopov