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Sujit Kumar
Sep 5, 2024
by Sujit Kumar

Cardano's Chang Hard Fork: A Step Toward Decentralized Governance

Cardano's Chang Hard Fork
The Cardano blockchain has taken a monumental leap toward decentralization with the recent implementation of the Chang Hard Fork. This upgrade transforms Cardano’s governance model, granting ADA holders more influence over the network’s future. The new governance structure introduces three key user-led bodies: the Constitutional Committee, Delegate Representatives (dReps), and Stake Pool Operators (SPOs).

Empowering ADA Holders

With this shift, control of the network moves from Cardano’s founding entities to the community. ADA holders now have the power to elect representatives and vote on critical proposals that impact the blockchain’s development. Founder Charles Hoskinson emphasized that this new structure allows users to participate in governance without losing staking rewards. ADA holders can choose to vote, abstain, or delegate their voting power to a dRep, ensuring staking remains integral to the ecosystem.

The Voltaire Era and Future Plans

The Chang Hard Fork marks the beginning of Cardano’s Voltaire era, which aims to achieve full decentralization. Over the next 90 days, the governance model will be fully implemented, with the Interim Constitutional Committee overseeing the transition. Looking ahead, Hoskinson has announced plans for “Cardano 2,” a vision to further enhance the platform’s features and governance, which he will unveil in October.

Cardano’s Market Performance

At present, Cardano’s ADA token has seen a slight recovery, rising nearly 2% in the last 24 hours to $0.32. While ADA experienced a weekly decline of over 10%, it has posted a 9% gain over the past 30 days.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Cardano's Chang Hard Fork
Cardano's Chang Hard Fork: A Step Toward Decentralized Governance
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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