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Sujit Kumar
Sep 4, 2024

Cardano's Chang Update: A Landmark Achievement in Blockchain Technology

Cardano's Chang Update
Charles Hoskinson, the founder of Cardano and CEO of IOHK, recently shared his thoughts on the progress and impact of the Cardano blockchain following its latest Chang update. The update introduced onchain governance, a significant step forward in the evolution of the Cardano ecosystem.

A Milestone in Blockchain History

In a recent social media post, Hoskinson reflected on the journey of developing Cardano and its transformative impact on the blockchain community. He described the Chang update as “one of the greatest technical achievements in human history,” highlighting Cardano's evolution into a decentralized system operating across more than 100 countries. Remarkably, this network continues to run seamlessly, with millions of users contributing to its growth without central coordination.

Cardano vs. Bitcoin: A Comparison

Hoskinson has long been vocal about Cardano's potential to outshine Bitcoin. He previously downplayed Bitcoin's relevance, criticizing it as a token with a deflationary monetary policy that lacks self-sufficiency. Hoskinson believes that despite Bitcoin's first-mover advantage, its ecosystem resembles a "religion" that may need to adapt to survive in the ever-evolving cryptocurrency landscape.

These bold statements have sparked controversy, drawing criticism from Bitcoin advocates. Notable figures like Tuur Demester and Adam Back have challenged Hoskinson’s views, with Back even suggesting that Cardano could lose 90% of its value.

A Vision for the Future

Despite the backlash, Hoskinson remains committed to pushing Cardano forward. The Chang update is a testament to the project's ongoing innovation and its ambition to redefine blockchain governance. As Cardano continues to grow, it aims to set new standards in the industry, leaving a lasting impact on the future of decentralized technologies.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Cardano's Chang Update: A Landmark Achievement in Blockchain Technology
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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