Intersect, the organization overseeing the development of the Cardano blockchain, has issued an urgent call for dApp projects on the blockchain to accelerate their preparations for the Chang #1 upgrade.
According to a statement from Intersect on August 17 and shared with crypto.news, over 80% of staking pool operators on Cardano (ADA) have already moved to the latest validator node, 9.1. 0. However, crypto exchanges and decentralized applications on the blockchain also need to upgrade to node 9.1. 0 and report their progress.
In its statement, the organization said that the success of the upgrade depends on exchanges achieving the 85% liquidity target on the new node.
The Chang upgrade is set to introduce on-chain governance to the Cardano ecosystem. Cardano founder Charles Hoskinson has previously highlighted the importance of the upgrade, calling it a pivotal step towards creating a “decentralized civilization” for millions of users.
As crypto.news previously reported, the Chang upgrade will usher in the Voltaire era, which is expected to push the network closer to a fully decentralized system.
The blockchain has already undergone several upgrade eras, each named after influential poets (e.g., Byron, Shelley, Gauguin, and Basho). The upcoming Chang upgrade will allow ADA token holders to vote on protocol changes. Furthermore, the upgrade is expected to bring improvements to smart contracts, especially with the introduction of the PlutusV3 cryptographic primitive to secure data on the network.
So far, Cardano has not shown any significant reaction to Intersect’s warnings. It is currently trading at $0.3345, up 0.8% in the past 24 hours.
Over the course of 30 days, the current ADA price still reflects a 21% decline – a 24% improvement so far this year.
At the end of July, ADA got a break after the US Securities and Exchange Commission struck down claims that ADA was an unregistered security, in its ongoing legal battle with Binance.