Cardano's Hoskinson Reveals Game-Changing Upgrades: Introducing 'Chang' and 'Ouroboros Leios
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 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.
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This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.
Marcel is the founder of Crypto News Flash and is also known as Collin Brown in the crypto community. He is a seasoned Bitcoin investor who entered the crypto scene during its early stages and has since become a veteran trader in both the cryptocurrency and forex markets. His journey began in 2012 when he made his first investment in Bitcoin, marking the beginning of his deep-rooted passion for blockchain technology and digital assets. With a mission to demystify the intricacies of blockchain for the masses, Marcel endeavors to bring the world of cryptocurrencies closer to everyone. His insightful reports are dedicated to shedding light on the latest developments and innovations within the realms of Bitcoin, Ethereum, Ripple (XRP), IOTA, VeChain, Cardano, Hedera, and numerous other cryptocurrencies. Marcel's in-depth analysis and commitment to providing accessible information make him a trusted source for both novice and experienced crypto enthusiasts. Marcel's academic background includes a Master's Degree in Business Education, which has equipped him with a solid foundation in financial markets and investment strategies. Over the past decade, he has amassed invaluable experience working with various startups across the globe, enriching his knowledge and understanding of the ever-evolving cryptocurrency landscape. With his wealth of expertise and dedication to empowering others with crypto knowledge, Marcel continues to be a driving force in the cryptocurrency community. Business Email: [email protected] Phone: +49 160 92211628
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