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

TeraWulf Announces Major Contracts and Future Plans

TeraWulf has secured significant contracts, including a 20-year lease with Anthropic and a credit backstop from Google, signaling strong future revenue potential.

user avatarKenji Takahashi

TeraWulf Reports Significant Shift in Revenue Sources

TeraWulf's third-quarter earnings reveal a major transition towards high-performance computing, with HPC lease revenue making up 83% of total revenue.

user avatarMaria Fernandez

Solana Foundation Reports Major Protocol Changes and Record Asset Value

The Solana Foundation has released its October 2023 ecosystem review, detailing significant protocol changes that went live last month, including a reduction in target slot time to 200 milliseconds and the activation of Alpenglow consensus, highlighting a record value of $5 billion in real-world assets on the network.

user avatarGustavo Mendoza

Solana's Ecosystem Roundup Highlights Financial Integrations and Market Activity

Solana Foundation's October 2023 roundup highlights new financial integrations and significant trading volume in the decentralized exchange market.

user avatarRajesh Kumar

Samsung Wallet's Stablecoin Account Now Available for Galaxy Users

Samsung Wallet's Stablecoin Account launched for eligible US Galaxy users, enabling USDC transactions.

user avatarMiguel Rodriguez

BitFuFu Reports Decrease in Bitcoin Production Amid Rising Network Difficulty

BitFuFu reported a decrease in Bitcoin production, mining 137 BTC in October compared to 167 BTC in September, due to increased network difficulty.

user avatarLuis Flores

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.