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Cardano’s Chang Hard Fork: Paving the Way for Decentralized Governance

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Cardano's Chang Hard Fork: Paving the Way for Decentralized Governance

The Cardano community is abuzz with anticipation as the upcoming Chang hard fork takes center stage. This pivotal update, set to debut this quarter, is heralded by prominent Cardano enthusiasts as a game-changer for the network.

Chris, ADA Whale, saint, and Ed n’ Stuff highlight the transformative impact of the Chang hard fork on Cardano’s future. This update is a critical milestone in the network’s roadmap, particularly in the Voltaire phase, targeting true decentralization and self-sustainability.

Chang Hard Fork: Catalyst for Cardano Governance

Scheduled for Q2 2024, the Chang hard fork represents the first technological leap of the Voltaire era, introducing minimum-viable community-run governance. At its core, this fork initiates Cardano’s governance journey, unfolding in three pivotal phases.

Related article: Cardano’s Continuous Journey: Consensus Milestones and Scaling Innovations

Cardano initiates Delegate Representatives (DReps) in the first phase, elected by ADA holders to advocate and vote on governance actions. In the second phase, a constitutional convention convenes in Buenos Aires for governance representatives to draft the inaugural Cardano Constitution.

Ratification: Community Approval of Cardano Constitution

The culmination of the governance journey occurs with the ratification of the Cardano Constitution, marking the final phase of decentralized governance implementation. Subsequently, following drafting in Buenos Aires, the broader community will vote on adoption, solidifying the constitution as the cornerstone of Cardano’s decentralized governance model.

Related article: Cardano’s MVRV Ratio Decline: A Bullish Signal Emerges

With the Chang hard fork set to activate these transformative governance mechanisms, Cardano charts a course toward greater decentralization and community-driven decision-making. This signifies a pivotal moment in Cardano’s evolution, ushering in a new era of decentralized governance. Additionally, with its implementation, Cardano aims to establish a robust governance model driven by community participation and consensus.

While Cardano enters the Voltaire era, adopting the Cardano Constitution will shape the network’s future, ensuring governance transparency, fairness, and sustainability.

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