Cardano's Biggest Upgrade in Two Years: Chang Hard Fork Set for September 1

Cardano is gearing up for its biggest upgrade in two years, with the 'Chang hard fork' set to reshape the network's structure and introduce on-chain governance features. The upgrade, which was initially scheduled for this week, has been pushed back to September 1 due to some exchanges needing more prep time.

Charles Hoskinson, the co-founder of Cardano, wrote on X that 'the magic of deadlines is that people who aren't taking upgrades seriously suddenly say damn we got to get moving.'

The upgrade's main goal is to introduce on-chain governance, where ADA token holders will elect representatives to vote on proposals and technical changes. This marks the first step towards a community-run governance structure.

Cardano has been criticized in the past for being too academic and losing ground to faster-moving competitors. However, the project is betting big on this upgrade to silence the naysayers and prove that slow and steady wins the race.