Cardano has reached a significant milestone with the successful implementation of its Chang hard fork at block 10,764,778, ushering in the “Conway ledger era.” This upgrade brings transformative changes to Cardano’s governance model and smart contract capabilities.
The Chang hard fork introduces a new phase in Cardano’s governance, particularly through the “Voltaire” upgrade. Now, ADA holders have the power to submit and vote on governance proposals, marking a shift towards a more inclusive and decentralized governance system.
According to a statement 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.”
Among the most notable features of the Chang upgrade is the introduction of on-chain participatory governance via CIP-1694, enabling users to vote directly or delegate their voting rights to chosen representatives. The upgrade also establishes a constitutional committee and redefines the role of stake pool operators, who will be fully integrated into this new governance model within the next 90 days.
The initial phase of the upgrade is focused on maintaining security and ensuring smooth continuity during the transition to the new governance structure. A second phase, slated for 2025, will encourage the community to develop self-governing initiatives for the broader ecosystem.
In addition to governance enhancements, the Chang hard fork significantly improves Cardano’s smart contracts by incorporating advanced cryptographic features and enhanced performance. It also supports sophisticated voting mechanisms, including decentralized autonomous organization (DAO) voting, powered by Plutus scripts.
The Chang upgrade is a crucial step in Cardano’s ongoing development, reinforcing both its governance and technological infrastructure.
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