Cardano's Chang Update and Rare Evo

GM Frens,

What's Spotlight? Every week, we highlight the most interesting events happening around Cardano. We want to help you cut the clutter and find the alpha.

Cardano Node version 9.1.0 has been implemented on 71% of nodes, clocking 61% of blocks minting this week. The Chang hard fork will be implemented once 70%-80% of nodes start generating 70% of blocks on Node 9.1.0. Meanwhile, Cardano projects have begun preparing for the Rare Evo Conference, including Input|Output Global chief Charles Hoskinson.
In other updates, the Cardano-based metaverse project Pavia looks for M&A. Cardano Codex India reaches Pune and Mumbai this weekend with its insightful workshops. Project Catalyst starts the smooth onboarding of 258 projects for the Fund12 round. Let’s deep dive into these developments:

Node 9.1.0: Chang hard fork nears completion

• Node 9.1.0 implementation is expected to take approximately 1-2 weeks. The community will be promptly informed upon the release of these components. In the meantime, Intersect-led Constitutional workshops have become a catalyst to collect global community inputs for the Constitution draft.

Here’s the list of other players upgrading to Chang hard fork:

• Exchanges

• Tooling

• Wallets

• dApps

• Supporting

• Governance Initiatives

• Community

Preprod and Mainnet Hard Forks:

• SPO Readiness (70-80%): This metric will be gauged through on-chain block header analysis.

• Exchange Readiness (70-80%): The Cardano team will directly gather data from exchanges to determine their preparedness.

• dApp Readiness (70-80%): Intersect will be responsible for collecting data on dApp readiness.
  
  The Chang hard fork is closer than ever. Cardano Spot is closely following the development. Read more here!

Pavia runs out of funds and looks for M&A

Is the Metaverse Hype Fading?

On August 6th Pavia announced that they have "paused development" and are seeking "Merger and Acquisition (M&A) talks", with the help of their advisors from GDA Capital. This halting of development and seeking of future capital is to "sustain the Pavia Word project past this point."

Looking at the wider financial world it would seem so. While Mark Zuckerberg continues to push toward a metaverse reality other companies are dropping off, with the funding for metaverse companies down 87% YOY between 2022 and 2023.

Reality Labs, the division at Meta responsible for developing Zuckerberg’s metaverse vision, has lost over $45 billion since the end of 2020.

If we look at the statistics behind some of the biggest metaverses being built in the crypto-sphere we find users following the same track as investors of traditional companies. The Sandbox and Decentraland are the two biggest metaverse projects, and their tokens, SAND and MANA, are down 26% and 36% respectively over the last year.
Read more about the state of the metaverse segment here!

EMURGO, CF, and Input|Output Plan For Rare Evo (Aug 15-17)

Rare Evo is a global blockchain event that takes place in Las Vegas. EMURGO has scheduled a workshop, introducing USDA on August 17.

Input|Output Global Founder and CEO will also attend the event, discussing about Cardano’s growth:

EMURGO Partners with Sonaverse
EMURGO and Sonarverse join forces to integrate on-chain data for Cardano into their leading blockchain data infrastructure platform. Read the announcement here!

Cardano Codex Roadshow in Pune & Mumbai

​Join us at the Cardano Codex in Pune and Mumbai on the 10th of Aug and the 11th of Aug, respectively. It’s a workshop tailored for Web3 and Cardano enthusiasts. This event is designed to offer a blend of networking opportunities, key insights, and a practical look at the real-world applications of Cardano's unique features.

Hosted by Nucast and powered by Project Catalyst, this gathering is an ideal place to connect and share ideas.

Best content of the week

Read: Are Metaverses Dead?

Watch: EMURGO Reveals BIG Plans For Cardano

Meme of the week

1M users or 1M TPS

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