Intersect, the organization responsible for Cardano blockchain development, has issued an urgent call to action for decentralized application (dApp) projects within the Cardano ecosystem. The organization is urging these projects to expedite their preparations for the upcoming Chang Upgrade #1, a critical step in Cardano’s evolution. While over 80% of stake pool operators have already transitioned to the latest validator node 9.1.0, Intersect stresses the importance of crypto exchanges and dApps also upgrading to this node and reporting their progress.
The Chang upgrade represents a significant milestone for Cardano, introducing on-chain governance to the ecosystem. This development is seen as a crucial step towards establishing what Cardano founder Charles Hoskinson describes as a “decentralized civilization” capable of serving millions of users. The upgrade will usher in the Voltaire era, moving the network closer to a fully decentralized system and allowing ADA token holders to vote on protocol changes. Additionally, it promises improvements to smart contracts, including the introduction of the PlutusV3 cryptographic primitive for enhanced data security.
Despite the urgency of Intersect’s call, the market reaction to this news has been relatively muted. The ADA token is currently trading at $0.3345, showing only a modest 0.8% improvement over the last 24 hours. However, the token has seen a 24% improvement year-to-date, despite a 21% drop over the past 30 days. The successful implementation of the Chang upgrade could potentially impact ADA’s market performance, especially in light of recent positive developments such as the U.S. Securities and Exchange Commission shelving allegations that ADA was an unregistered security in its ongoing legal battle with Binance.
