Fri, July 26, 2024 at 23:15

• 

  Joy

  • Hey Annie!

  • Have you heard about the latest Cardano news?

  • They're about to launch the Chang hard fork, which will kick off the Voltaire era!🚀

  • 
• Annie

  • Oh, really?

  • That sounds interesting!

  • What exactly is a hard fork?🤔

  
• 

  Joy

  • A hard fork is like a major software update for a blockchain.

  • It introduces new features and changes that aren't compatible with the old version.

  • So, everyone needs to upgrade to the new version to keep things running smoothly.

• Annie

  • Got it!

  • So, what's special about this Chang hard fork?😊

  
• ADward

  • Hold on! Behold, an advertisement awaits. Legend has it that clicking on this ad will make the AI server even smarter... 😅

  
• 

  Joy

  • Well, the Chang hard fork is super important because it brings on-chain decision-making to Cardano.

  • This means ADA holders can directly participate in governance through on-chain consensus.

  • It's a big step towards decentralization!🌐

  • 
• Annie

  • Wow, that sounds like a big deal!

  • How does it work?🤓

  
• 

  Joy

  • So, the upgrade includes a new genesis file that's mandatory at startup, which is crucial for the hard fork.

  • Plus, there are tons of bug fixes and enhancements, like a new query treasury command for better financial insights.💰

• Annie

  • Interesting!

  • What about those Cardano Improvement Proposals?

  • I heard they are part of this upgrade too.🤔

  
• 

  Joy

  • Yep!

  • The upgrade ensures compatibility with CIP69, which standardizes metadata structures, and CIP119, which introduces a transaction metadata label for easier processing.

  • These proposals help streamline operations and improve efficiency.📊

• Annie

  • That sounds like a lot of technical stuff!

  • How will this affect the Cardano community?😊

  
• 

  Joy

  • The community will play a huge role!

  • The hard fork will activate once 70% of validators adopt the new node.

  • Plus, Delegate Representatives (DReps) will help voice community interests and guide the network's future.

  • It's all about community-driven governance!👥

• Annie

  • Wow, that's really inclusive!

  • So, what's the timeline for this upgrade?⏳

  
• 

  Joy

  • The upgrade is split into two phases.

  • The first phase, Chang Upgrade #1, will deploy the initial governance features and start the technical bootstrapping phase.

  • The second phase, Chang Upgrade #2, will fully enable on-chain governance, including DRep participation.🛠️

• Annie

  • Sounds like a thorough plan!

  • And why is it called the Chang upgrade?🤔

  
• 

  Joy

  • It's named in honor of Phil Chang, a key figure in Cardano's governance strategies who passed away in 2022.

  • His work was foundational to the Voltaire era, which this upgrade aims to realize.

  • It's a tribute to his contributions.🌟

• Annie

  • That's really touching.

  • So, how's ADA performing in the market right now?📈

  
• 

  Joy

  • As of now, ADA is trading at $0.4134.

  • The market seems to be watching this upgrade closely, and it could have a significant impact on ADA's value.📊

• Annie

  • Do you think this news is a good sign for investors?🤔

  
• 

  Joy

  • Absolutely!

  • This upgrade is a major step forward for Cardano, enhancing its governance and technical capabilities.

  • It shows the project's commitment to decentralization and community involvement, which are great signs for long-term growth.🚀

  • To sum up, this article is considered a 😍Bullish for investors!!