Charles Hoskinson has announced two major upgrades for Cardano, namely the ‘Chang’ hard fork and the ‘Ouroboros Leios’ upgrade. These upgrades are aimed at improving decentralization, scalability, and community-driven governance within the Cardano platform. Despite facing criticism, Hoskinson remains optimistic about the future of Cardano.
The ‘Chang’ hard fork, which is expected to take place in the near future, will revolutionize Cardano’s network by empowering ADA holders and enhancing decentralization. Through this upgrade, ADA holders will have the ability to participate directly in governance by voting on proposals. This is a significant step towards achieving a fully decentralized Cardano ecosystem.
In addition to the ‘Chang’ hard fork, the introduction of ‘Ouroboros Leios’ will advance Cardano’s scalability and transaction speed. This upgrade aims to maintain decentralization while improving performance. Hoskinson’s announcement comes in response to critiques about Cardano’s utility compared to other cryptocurrencies. He emphasizes Cardano’s focus on long-term innovation and its strong community.
Hoskinson also addresses the challenges faced by the wider blockchain industry, drawing parallels with the AI sector. He highlights the importance of a strong foundational ethos and a community that upholds these principles. Cardano’s consistent uptime, global engagement capabilities, and on-chain sovereign wealth fund are indicators of its resilience and potential for success.
The recent buzz surrounding ‘Hydra Pay’, a decentralized payment solution offering 1 million transactions per second and Web3.0 compatibility, is expected to have a positive impact on ADA’s value. Currently, ADA is trading at approximately $0.6087, with a 2.97% increase in the last 24 hours. This follows CNF’s previous analysis, which predicted a boost in ADA’s price to $0.20 with the introduction of Hydra Pay.
With the upcoming upgrades of ‘Chang’ and ‘Ouroboros Leios’, Cardano aims to solidify its position as a leader in the blockchain industry. The platform is committed to innovation, community empowerment, and sustainable growth.