Compass Investments

– The Cardano cryptocurrency (ADA) is ready to launch the long-awaited Chan hard fork.

This milestone suggests that a fork aimed at increasing decentralization and inter-node connectivity could be announced soon.

The Chan hard fork is a major update for Cardano and aims to improve decentralization of the network without central oversight. The update applies to nodes running version 9.1.0 and its success depends on how many nodes accept it.

Some exchanges have already updated their nodes, but the community is still waiting for updates from major services such as Coinbase and Binance.

In the second phase of the Chan hard fork, Cardano will implement a new governance model proposed by Intersect. In this phase, ADA holders will be able to play a more active role in governance, going beyond simply calling the shots and allowing them to propose and vote on future changes.