- Successful Chang Hard Fork
- Changes in Governance and Rewards System
- Community Reaction and Hoskinson's Responses
Cardano has successfully implemented the Chang hard fork, marking the commencement of the Conway era and bringing full decentralization to the network. However, some ADA holders have expressed concerns about the future of the governance and staking reward systems.
Successful Chang Hard Fork
Cardano successfully conducted the Chang hard fork, ushering in the Conway era and implementing the CIP-1694 governance model. According to the network's blog post, this milestone has enabled ADA holders to actively participate in the platform’s decision-making processes, bringing the vision of a fully autonomous and decentralized network closer.
Changes in Governance and Rewards System
Cardano’s founder, Charles Hoskinson, explained that ADA holders must choose from three options to withdraw staking rewards: a vote of no confidence, abstain, or delegate to a DRep. He also pointed out that wallets like Lace will automatically choose the abstain option when a user selects delegation, thereby simplifying the process for users.
Community Reaction and Hoskinson's Responses
Some community members expressed their concerns on social media. MALU Pool Stake Pool Operator, Linda, raised the question about potential changes associated with receiving staking rewards post the next hard fork. In response, Hoskinson provided clarifications on the choice of options, stating that abstaining is an active choice and not simply doing nothing. He also reassured that the new governance mechanism allows users to express opinions and even vote no confidence in the entire system.
Following the implementation of the Chang hard fork, new governance and staking reward distribution mechanisms have emerged in the network. The community continues to discuss these changes, while Stake Pool Operators and other network participants maintain the infrastructure and participate in the governance process.
