Cardano Completes Chang Upgrade, Introducing Decentralized Governance
Cardano has completed a major upgrade, called the Chang hard fork, marking the beginning of its "Conway ledger era."
This update, which took place on September 1, introduces significant changes to the blockchain’s governance system. Now, any Cardano (ADA) holder can participate in decision-making, as the project moves into its “Voltaire” phase of decentralized governance.
One of the key components of this upgrade is Cardano Improvement Proposal-1694, which establishes a framework for direct voting and delegation. It also sets up a constitutional committee and introduces new roles for stake pool operators. These changes will gradually be implemented over the next 90 days.
The Cardano Foundation emphasized that the initial phase of this upgrade focuses on ensuring a smooth transition to the new governance model. The second phase, planned for 2025, will further develop community-driven governance.
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In addition to governance changes, the upgrade also brings enhancements to smart contracts, including new cryptographic features and performance improvements. Cardano co-founder Charles Hoskinson highlighted the importance of this milestone, saying it empowers the entire community to have a say in the protocol’s future.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
