Cardano has once again captured the attention of the crypto community by shining the spotlight on itself with its recent Chang hard fork upgrade, completed on September 1, 2024. This could mark a major turning point in Cardano's growth and undoubtedly spur the beginning of ADA becoming the next big thing in the Layer 1 space, second only to Bitcoin and Ethereum. For investors and speculators, understanding what this upgrade could mean for the future of Cardano is imperative in guiding their investment decisions in Cardano's token.

The Chang Upgrade: A Game-Changer for Cardano?

Cardano has been met with constant criticism for being perceived as centralized, especially when compared to similar layer 1 projects like Ethereum and Solana. These Criticisms by the crypto community seem to be limiting its appeal to broader, savvy investors. However, with the recent Chang upgrade, Cardano will be seeking to address these concerns by introducing a decentralized governance framework, which could inherently alter the perception of Cardano within the crypto community.

With the removal of the contentious "Genesis Keys," Cardano's network will be pivoting towards a governance model that empowers token holders with decision-making capabilities in driving the overall growth of Cardano and its ecosystem. This move is not just a technical upgrade; it's also a philosophical realignment that will position Cardano as a truly decentralized platform, challenging its competitors like Ethereum and Solana in the Layer 1 smart contract domain.

Speed and Security: Cardano's New Edge

One of the crucial underlying narratives of the Chang upgrade is its improvement in Cardano's transaction output. Before the upgrade, Cardano was already outperforming Bitcoin and Ethereum in terms of transaction speed, processing over 250 transactions per second (TPS). With Chang, this capacity is expected to exceed 1,000 TPS, putting Cardano on par with Solana, which has been a market favourite for its speed and low fees. Speed and Security

Cardano's team not only cares about the speed of its network but also its security. The Chang upgrade also enhances security measures, making the Cardano network more robust against common Web3 threats. This dual focus on speed and security could make Cardano an attractive option for developers and users looking for a reliable and efficient blockchain platform to both build and use.

This poll invites the community to speculate on ADA's short-term price movement, but the real question is whether Cardano's long-term prospects have fundamentally improved. Will the Chang upgrade propel ADA to new heights, or will it struggle to overcome its competition? The next two weeks could provide crucial insight into the future trajectory of Cardano.

The Market's Reaction: Is ADA Ready to Surge?

The market's reaction to the Chang hard fork has been impressive and reflective of the crypto community's belief in ADA. Whale-sized investors have shown their confidence in the upgrade, adding 170 million ADA tokens to their portfolios within just 48 hours at the end of August. 170 million ADA purchase This inflow of big money could suggest that the market is bullish on Cardano's growth post-Chang.

There is a lot of optimism about ADA's price, with analysts predicting ADA could reach as high as $3 by mid-2025, with more ambitious predictions calling for ADA to reach $75 by the peak of the next bull cycle. These predictions reflect a growing belief among the crypto community about ADA's price and a potential significant price breakout.

A Critical Juncture for Cardano

The Chang upgrade is representative of Cardano's knack for consistent technical improvement to its network. It remains to be seen whether this could potentially be a turning point in ADA's journey towards creating a more decentralized platform that could be massively adopted by the crypto community, outside of ADA's loyal fan base. As Cardano's community takes on a more active role with the implementation of a governance model, we can expect less criticism of its structure and begin to consider Cardano as an emerging formidable competitor to the likes of Ethereum and Solana.