Cardano has launched its Chang Hard Fork, an opening update that brings decentralized governance to the platform. The hard fork is the first step to full governance, and the second is expected to be completed in 2025. The move significantly changes how Cardano operates: moving away from a centralized governance system to one where the power is in the hands of the ADA holders.
The move was welcomed with open arms by an exchange rival. Indeed, the Polkadot crypto exchange congratulated its rivals with a cryptic message on X (formerly Twitter). The Polkadot team congratulated Cardano on the feat, adding an “Expect Chaos” motto, which is associated with Kusama, Polkadot’s sister chain. Cardano followers were thankful for the congratulatory post from Polkadot, but it remains unclear if it signaled more, perhaps an upcoming collaboration.
Cardano’s Chang Hard Fork executed smoothly, however, the native ADA asset failed to capitalize on the hype. ADA has fallen 12% in the past week and didn’t show too much upward momentum over the weekend following the hard fork launch. The asset is trading at $0.3214 at press time and isn’t showing too much promise to rebound.
The hard fork implemented Plutus v3 with new-gen cryptographic primitives; improved performance; enhanced contract efficiency; and community governance. The update was thought to be a catalyst for ADA price. However, ADA is yet to climb in price.
Cardano responded to Polkadot’s congrats with a thankful post: “We appreciate you!” However, the account also added a cryptic message similar to Polkadot’s: “ᵒʳᵈᵉʳ ᵒᵘᵗᵗᵃ ᶜʰᵃᵒˢ.”