Cardano Executes First Phase of Chang Hard Fork, Initiating Fully Decentralized Governance Era

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. The Voltaire Era: A New Chapter in Decentralized Governance
  2. Liquid Democracy: Empowering ADA Holders
  3. Technical Advancements


    4. On August 31, 2024, Cardano successfully executed the first phase of its Chang hard fork, marking the beginning of a new era of fully decentralized governance. This upgrade signifies the start of the Voltaire era and lays the foundation for a governance system controlled by ADA holders.

    The Voltaire Era: A New Chapter in Decentralized Governance

    The Chang hard fork introduces the Voltaire phase, a critical step in Cardano's roadmap toward decentralized governance. Under this new system, every ADA holder now has the right to submit and vote on governance proposals, giving the community direct control over the blockchain's future.

    Today's Chang hard fork marks a major milestone for the Cardano blockchain, ecosystem, and community––fulfilling the promise of a truly self-governing, decentralized network.Cardano Foundation

    Liquid Democracy: Empowering ADA Holders

    A key feature of the new governance model is the introduction of 'liquid democracy.' This system allows ADA holders to either vote directly on governance issues or delegate their voting power to trusted representatives, known as DReps.

    Technical Advancements

    The Chang hard fork also brings significant technical advancements, particularly in the area of smart contracts. This upgrade enables the use of Plutus scripts in governance, making it possible to use more sophisticated voting methods, including on-chain voting within Decentralized Autonomous Organizations (DAOs).

    The second stage of the Chang hard fork, set to occur in early 2025, will complete Cardano's transition to decentralized governance. This phase will introduce the final upgrades needed for full community-led governance, including the formal establishment of DReps as a governance body.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Tether Introduces New Framework to Enhance Bitcoin Mining Operations

Tether has announced a new initiative aimed at simplifying Bitcoin mining operations by integrating existing equipment through a common software framework.

user avatarRajesh Kumar

Electrum Wallet Vulnerability Could Lead to Unintended Payments

Electrum disclosed a vulnerability in its wallet that could lead to unintended payments due to a flaw in fee adjustments.

user avatarLucas Weissmann

US Household Inflation Expectations Increase Ahead of Federal Reserve Meeting

In October 2023, American households raised their inflation expectations to 4.7% for the next year and 3.5% for the long run, according to a survey by the University of Michigan.

user avatarFilippo Romano

XRP Ledger Maintenance Amendment Regains Validator Majority

The XRP Ledger's fixCleanup340 amendment has regained majority support from validators, moving its activation window to November 4.

user avatarEmily Carter

W Group Invests in SwapGlobal for Institutional Pre-IPO Derivatives

W Group has announced its investment in SwapGlobal, which is preparing to offer institutional pre-IPO derivatives.

user avatarTomas Novak

Aave Labs Clarifies V38 Security Upgrade Details

Aave Labs has clarified its proposed V38 security upgrade, focusing on the exclusion of flashloan entry points from the new reentrancy guard, ensuring functionality during liquidations.

user avatarKaterina Papadopoulou

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.