Cardano developers have scheduled Chang hard fork for 2024

What’s new? The developers of the Cardano blockchain have presented a roadmap for 2024, which includes conducting the Chang hard fork, transitioning to fully decentralized governance within the Voltaire project, and expanding the functionality of the Yoroi crypto wallet. In addition, the team intends to develop the Real World Asset (RWA) tokenization direction and increase Cardano’s interoperability with other blockchain ecosystems, as well as attract more third-party developers of decentralized applications (DApps).

Press release

What else is known? The team writes that in the outgoing year, by adopting the CIP-1694 network improvement proposal and launching the community-member organization Intersect, the foundation for sustainable project management was laid.

CIP-1694 within the Voltaire project is designed to increase the decentralization of network governance by forming several governing bodies such as a constitutional committee, delegate representatives (dReps), and staking pool operators (SPOs). The plan is to open registration for dReps in Q2-Q3 2024, and they will be open to all willing participants in the network.

The purpose of CIP-1694 is to give every member of the community the right to vote on the future direction of the project. The initiative also envisages the drafting of a so-called Cardano constitution, which will reflect the fundamental principles of the network. In 2024, Intersect will hold a series of workshops around the world to get feedback on its content from local communities. At the end of 2024, the first version of Cardano’s constitution will be put to a vote.

The Chang hard fork is also part of this initiative, it will introduce a new consensus mechanism to the network. The exact date of the upgrade has not been announced yet.

The team also intends to attract more third-party developers to create applications based on Cardano. Cardano itself is created in the Haskell programming language, but the network also supports the creation of applications and smart contracts in the Plutus, Marlowe, and Aiken languages. More than 150 projects have been launched on Cardano, with over 1300 currently in development.

According to Santiment analysts, Cardano ranks number one in developer activity over the past 30 days.

Source: Twitter.com

In addition, the team is developing several CIPs aimed at making Cardano more compatible with Ethereum Virtual Machine (EVM) enabled networks. Partnerships with Wanchain and Maestro will increase the total value locked (TVL) of Cardano-based decentralized financial protocols, while Paima Studios’ solutions can enable game portability from other blockchain platforms without having to move assets.

Ecosystem mobile and desktop wallet Yoroi has already added the ability to buy cryptocurrencies with fiat this year and will add more services for more than 2 million users in 2024, the Cardano team reports.

As of December 29, 09:40 Moscow time, the native token of Cardano (ADA) occupies the eighth line of the cryptocurrency ranking with a capitalization of $21,75 billion and is trading at $0,621017, having lost 4,5% over the day. At the same time, the asset has added 153% since the beginning of the year.