- Charles Hoskinson announces major upgrades for Cardano: ‘Chang’ and ‘Ouroboros Leios’.
- These upgrades aim to enhance decentralization, scalability, and community-driven governance.
Despite facing criticism, Charles Hoskinson, co-founder of Cardano, remains undeterred and optimistic about the platform’s future. He has announced two pivotal upgrades: the ‘Chang’ hard fork, integral to the Voltaire phase of Cardano’s roadmap, and the ‘Ouroboros Leios’ upgrade.
The ‘Chang’ hard fork, anticipated in the upcoming quarter, is set to revolutionize Cardano’s network by enhancing decentralization and empowering ADA holders. Detailed in a CNF YouTube video below, this upgrade will allow ADA holders to directly participate in governance by voting on proposals. This marks a significant milestone in achieving a fully decentralized Cardano ecosystem.
‘Ouroboros Leios’: Advancing Cardano’s Scalability and Speed
Alongside ‘Chang’, the introduction of ‘Ouroboros Leios’ signifies a major upgrade in Cardano’s proof-of-stake consensus mechanism. This development is designed to notably improve transaction speed and scalability, reinforcing Cardano’s dedication to maintaining decentralization without compromising performance. Hoskinson’s announcement, as seen in this tweet, comes in response to critiques about Cardano’s utility against other cryptocurrencies. Despite fluctuations in ADA’s value, Hoskinson emphasizes the blockchain’s focus on long-term innovation and its robust community.
Seeing all the dunking on Cardano makes me smile a bit. We are holding all the cards as an ecosystem. We have the best path for scalability, governance, and innovation. We also have the best community.
Chang is coming soon as measured by progress on SanchoNet. Ouroboros Leios is… pic.twitter.com/11RTXaDrZU
— Charles Hoskinson (@IOHK_Charles) April 7, 2024
A Future Built on Solid Ground
Hoskinson also addresses the wider blockchain industry’s challenges, drawing parallels with the AI sector. He underscores the importance of a strong foundational ethos and a community that upholds these principles. He points to Cardano’s consistent uptime and its global engagement capabilities, coupled with an on-chain sovereign wealth fund, as indicators of its resilience and potential for lasting success.
The recent buzz around ‘Hydra Pay’, a decentralized payment solution promising 1 million transactions per second and Web3.0 compatibility, is likely to positively impact ADA’s value. As per the latest data, ADA is trading at approximately $0.6087, marking a 2.97% increase in the last 24 hours. This trend follows CNF’s previous analysis, predicting a boost in ADA’s price to $0.20 with Hydra Pay’s introduction.
Cardano’s upcoming upgrades, ‘Chang’ and ‘Ouroboros Leios’, are set to reinforce its position as a frontrunner in the blockchain space, driven by a commitment to innovation, community empowerment, and sustainable growth.
