• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

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

user avatar

by Giorgi Kostiuk

a year ago

  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.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

SpaceX Acquires xAI to Tackle AI Power Challenges

chest

SpaceX has acquired xAI, merging rocket launch services with AI development to tackle the limitations of Earth-based infrastructure.

user avatarDiego Alvarez

Starlink Revenue Expected to Fund xAI's Operations After Merger

chest

Starlink revenue is expected to support xAI's operations after its acquisition by SpaceX.

user avatarKenji Takahashi

BlockDAG Launch Dashboard Set to Go Live on February 2

chest

BlockDAG will launch a new dashboard on February 2, providing users with a fully integrated system for managing their investments and preparing for exchange access.

user avatarMaria Fernandez

Referral Strategies Become Key to Success in ZKP Auction Stage 2

chest

Referral strategies are crucial for success in the ZKP presale auction Stage 2 as token availability tightens.

user avatarRajesh Kumar

Stage 2 of ZKP Presale Auction Heightens Competition with Scarcity

chest

Stage 2 of the ZKP presale auction reduces daily token allocation, intensifying competition and emphasizing referral strategies.

user avatarLuis Flores

SPX6900 and Brett Gain Traction in the Meme Coin Market

chest

SPX6900 and Brett are gaining traction in the meme coin market with increased trading activity and community support.

user avatarGustavo Mendoza

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.