Key Takeaways:
- Cardano’s Chang Hard Fork introduces on-chain governance, allowing ADA holders to participate directly in network decisions.
- CIP-1694 is central to Cardano’s transition towards a community-driven governance model in the Voltaire Era.
- The Chang upgrade marks a significant step in Cardano’s evolution, enhancing its decentralized governance structure.
YEREVAN (CoinChapter.com) — Cardano, the blockchain platform launched in 2017 by Ethereum co-founder Charles Hoskinson, is now set for its biggest upgrade in two years. The “Chang hard fork” will introduce new on-chain governance features, which, in turn, will allow Cardano users to participate more directly in network decisions. Although it was originally scheduled for this week, the upgrade has been postponed to September 1 to give exchanges like Binance more time to prepare.
Charles Hoskinson, CEO of Input Output Global, announced the delay, emphasizing the urgency of deadlines. He wrote on X,
“The magic of deadlines is that people who aren’t taking upgrades seriously suddenly say damn we got to get moving.”
Cardano’s Chang Hard Fork: Empowering ADA Holders with Governance
The Chang hard fork will introduce governance mechanisms that, in turn, enable ADA holders to participate in blockchain governance. Specifically, ADA holders will elect Delegate Representatives (dReps) and vote on improvement proposals as well as future technical changes. Furthermore, this upgrade is a significant step toward a more community-driven governance model. Moreover, the Cardano Foundation highlighted that this upgrade is part of the broader move toward a community-run governance structure as outlined in Cardano Improvement Proposal 1694 (CIP-1694).
Cardano’s Evolution in the Voltaire Era
CIP-1694 introduces new structures within the Cardano ecosystem, including the Constitutional Committee, dReps, and Stake Pool Operators (SPOs). Once implemented, these groups will maintain and evolve the Cardano blockchain. The Chang upgrade is a key component of the Voltaire Era, the final stage of Cardano’s current roadmap. The Voltaire Era aims to provide the tools necessary for the network to become a self-sustaining system.
Cardano is currently ranked as the 30th largest blockchain by DeFiLlama. The project remains a focal point in the crypto community, partly due to Charles Hoskinson’s active role in the industry. Hoskinson, a key figure in Ethereum’s early development, frequently shares updates on Cardano’s progress.
