Cardano’s blockchain reached a major milestone with the successful launch of its Chang hard fork at block 10764778. This upgrade, starting the “Conway ledger era,” brings key changes to Cardano’s governance and smart contracts.
The Chang upgrade brings a major shift in how Cardano’s decentralized governance operates. With the new “Voltaire” upgrade phase, every ADA holder can now submit and vote on governance proposals.
This move aims to create a more inclusive and self-governing network. According to a post from the Cardano Foundation on X, “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.”
Key features of the Chang upgrade include on-chain participatory governance through CIP-1694, which allows users to vote directly or delegate their voting power to representatives. The upgrade also introduces a constitutional committee and a new role for stake pool operators, set to be fully integrated over the next 90 days.
The first phase of the upgrade focuses on ensuring security and continuity during the governance setup phase. The second phase, scheduled for 2025, will support the community in developing self-government initiatives for the ecosystem.
Additionally, the Chang hard fork enhances Cardano’s smart contracts with improved cryptographic features and performance. It also supports advanced voting mechanisms, including DAO voting, through the Plutus scripts.
The first phase, now active, establishes an Interim Constitutional Committee to manage Cardano’s governance temporarily. This phase is intentionally cautious, restricting the committee’s authority to alter the blockchain’s code as the broader governance model develops. The second phase, anticipated within 90 days, will grant full authority to the new governance bodies.
The Chang upgrade represents a pivotal step in Cardano’s evolution, aiming to strengthen its governance and technological framework. However, Cardano’s token ADA saw no effect of the Hard Fork, slumping 2.4% on the day.
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