Smart contract who fully attained their abilities in 2021 Cardano is on the verge of a major upgrade. We know that such network upgrades have a positive impact on the ADA Coin price. So what are the details of the biggest network upgrade in the last 2 years? Let’s discuss this important topic for investors.
Cardano Hard Fork
Ethereum co-founder Charles Hoskinson launched his own smart contract platform in 2017. Cardano has seen several major network upgrades over the years. Vasil and others have helped drive the price, while the Chang Hard Fork aims to bring on-chain governance capabilities to the blockchain. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
Chang, one of the biggest milestones on the roadmap, is the biggest upgrade we will see on Cardano in 2 years. The upgrade, which was normally expected to take place this week, has been postponed to September 1 so that central exchanges can complete their preparations. So the big day is Sunday.
Cardano and Network Evolution
Cardano according to DeFILlama data Blockchains It ranks 30th among cryptocurrencies, which is a very weak ranking compared to its market cap. There is a network activity that is out of sync with the token price, as the Cardano network has not seen TVL increases due to popular applications supported by popular applications that have been expected for years. The network lacks popular applications and tools that attract users compared to competitors.
But still with Vitalik Ethereum The fact that Hoskinson is the head of Cardano, a name that started the network, has kept it popular over the years. Sunday’s update has the potential to solve Cardano’s chronic problem because of its potential to increase participation in the network.
The process of participating in proposals and voting for improvements on the Cardano network will complete a significant difference between it and rival networks. Thus, voting for ADA Coin There is also the potential for the concept of holding to become stronger. This could push the token price up with increasing demand. The Cardano Foundation states the following in its article on the subject.
“It will mark the first step towards a minimum viable community-led governance structure outlined by CIP-1694, meaning the Cardano community will be responsible for maintaining and shaping the blockchain network.”
Officials are confident that this development will be beneficial in the long term, saying they are in the process of putting in place the final pieces needed for the Cardano network to become a self-sustaining system.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
