The community is buzzing with anticipation for the Chang hard fork, scheduled for Q2 2024. Positioned as a landmark milestone on Cardano’s journey towards decentralized governance, the upgrade marks the beginning of a minimum viable community-run governance in the blockchain ecosystem.
As Chan approaches, past performance suggests that ADA’s price may rise significantly.
Cardano Chang fork coming soon
Cardano’s Chang fork is fast approaching.
The Chan hard fork is a step in Cardano’s transformation into the Voltaire era and marks the final stage of its roadmap to building a fully community-run blockchain ecosystem. Named in honor of early Cardano governance leader Phil Chan, the upgrade heralds an era in which Cardano will be run entirely by community members, rather than actively managed by Cardano development company Input Output Global (IOG).
This groundbreaking form of expression allows holders to delegate their ADA tokens, encouraging engagement and participation.
According to Cardano founder Charles Hoskinson, Chan marks “the most important milestone in Cardano’s history” and will help the blockchain network realize “a global decentralized civilization of millions of people.”
Can we expect a repeat of ADA’s explosive rise in 2021?
The Cardano Alonzo hard fork was one of the most significant events in the cryptocurrency industry in 2021, allowing decentralized applications (dapps) and smart contracts to finally take hold in the ecosystem, and the excitement has pushed the price of ADA to its current all-time high of $3.09.
According to data from IntoTheBlock, Cardano’s price is expected to rise from a low of $1.35 to more than $3.10 in the month before the hard fork. By the time the Alonzo hard fork was completed in September 2021, the price of ADA had already increased by more than 130%.
This impressive performance has raised hopes that Chan’s milestone could be just around the corner and send ADA’s price soaring. Expectations are already building that if things play out similarly to the 2021 hard fork, Chan could push ADA’s price to the coveted $1 mark.
However, Cardano’s long-awaited Chan fork will debut amid a sell-off for the ADA token, which has seen a massive drop in value in 2024. In early April, ADA dropped out of the top 10 coins by market cap, losing its spot to Telegram-linked cryptocurrency Toncoin (TON).
