Charles Hoskinson has announced two major upgrades for Cardano, called ‘Chang’ and ‘Ouroboros Leios’, with the goal of improving decentralization, scalability, and community-driven governance. Despite facing criticism, Hoskinson remains optimistic about the future of the platform.
The ‘Chang’ hard fork, which is expected to take place in the upcoming quarter, will revolutionize Cardano’s network by empowering ADA holders and enhancing decentralization. This upgrade will allow ADA holders to directly participate in governance by voting on proposals, a significant milestone in achieving a fully decentralized ecosystem.
In addition to ‘Chang’, the introduction of ‘Ouroboros Leios’ will advance Cardano’s scalability and speed. This upgrade will improve transaction speed and scalability while maintaining decentralization and performance. Hoskinson’s announcement is a response to critiques about Cardano’s utility compared to other cryptocurrencies, emphasizing the blockchain’s long-term innovation and strong community.
Hoskinson also addresses the challenges faced by the wider blockchain industry, drawing parallels with the AI sector. He emphasizes 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 lasting success.
The recent buzz around ‘Hydra Pay’, a decentralized payment solution promising 1 million transactions per second and Web3.0 compatibility, is expected to positively impact ADA’s value. ADA is currently trading at approximately $0.6087, with a 2.97% increase in the last 24 hours. This aligns with CNF’s previous analysis, predicting a boost in ADA’s price to $0.20 with the introduction of Hydra Pay.
Cardano’s upcoming upgrades, ‘Chang’ and ‘Ouroboros Leios’, will solidify its position as a leader in the blockchain space. The platform is driven by a commitment to innovation, community empowerment, and sustainable growth.