- The Voltaire Era: A New Chapter in Decentralized Governance
- Liquid Democracy: Empowering ADA Holders
- Full Decentralization in 2025
On August 31, 2024, the Layer 1 blockchain Cardano, founded by Ethereum co-founder Charles Hoskinson, successfully executed the first stage of its Chang hard fork at block 10764778. This upgrade marks the start of the “Conway ledger era” and sets the foundation for a fully decentralized governance system.
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.
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. This flexibility ensures that all community members can participate in the governance process, regardless of their technical expertise or time availability.
Full Decentralization in 2025
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. DReps will gain the authority to register, generate certificates, request ADA delegations, and vote on governance proposals.
Cardano's transition to decentralized governance culminates with the launch of the Chang hard fork upgrade, representing a significant milestone in the blockchain's evolution. This initiative strengthens the community's role and ensures stable and effective network governance.
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