- Cardano has delayed its Chang hardfork to September 1, 2024, allowing more time for exchanges like Binance to complete necessary upgrades.
- The upgrade, which introduces decentralized governance, was postponed due to insufficient exchange readiness despite Stake Pool Operators meeting the required threshold.
Cardano has announced a delay for its highly anticipated Chang hardfork, now rescheduled for September 1, 2024. This decision, confirmed by Cardano founder Charles Hoskinson in a recent post on X (formerly Twitter), allows key platforms like Binance and other centralized exchanges (CEXs) more time to prepare for the upgrade.
The Reason Behind the Delay
Hoskinson explained that while the Chang upgrade is technically ready, the extended timeline will accommodate additional preparation by exchanges. “The magic of deadlines is that people who aren’t taking upgrades seriously suddenly say, ‘Damn, we got to get moving.’ When they get moving, we converge quickly. It looks like Binance and a few others need more time to get their houses in order, so the rocket is going to wait on the pad, another epoch for the weather to get better. Next Chang HF window, September 1st,” said Hoskinson.
What is the Chang Hardfork?
The Chang upgrade marks a pivotal moment for Cardano, ushering in the Voltaire era. This upgrade is expected to introduce decentralized governance mechanisms and on-chain voting, empowering the Cardano community to influence future developments directly.
In an earlier update, the Cardano team indicated a potential mainnet launch for August 27, 2024, with a “final go/no-go decision” set for August 23. While Stake Pool Operators (SPOs) had largely upgraded to version 9.1.0 of the Cardano software, the broader ecosystem, particularly exchanges and decentralized applications, lagged behind. Among the critical issues was exchange liquidity, with Binance being a key player needing more time to meet the readiness criteria.
Where Does Cardano Stand?
Nothing is going to stop the upgrade to Voltaire. We have an elected government that has to take power. The rocket isn't leaving the pad. We just have to wait for the weather to clear.
— Charles Hoskinson (@IOHK_Charles) August 23, 2024
According to the Chang upgrade readiness page, 83% of SPOs are already operating on version 9.1.0. However, exchange liquidity remains at just 46%, far short of the desired 85% threshold. This gap in readiness led to the decision to push the hardfork back to September, providing these platforms the time needed to complete necessary upgrades.
Despite this delay, Hoskinson remains confident that nothing will stop the Chang hardfork from launching as planned in September.
Cardano’s Chang hardfork represents a major milestone in the blockchain’s evolution. While the delay may frustrate some within the community, ensuring the network’s ecosystem is fully prepared for the transition is crucial. With Binance and other exchanges making final preparations, the September launch date should see the successful activation of Cardano’s most advanced governance features yet.
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