Chang Cardano hardfork has been successfully completed
The Cardano blockchain has successfully passed its Chang's hard fork and is trying to create a new era of decentralized governance by promoting voting mechanisms and smart contracts.
news summary
- Chang Cardano hard fork is done.
- The price of Cardano decreased by 4% the previous day.
According to Cointelegraph, the previous day, Chung Cardano was upgraded at block 10764778 to bring the network into the Conway ledger era.
One of Cardano's key changes after Chang's hardfork is that it allows any ADA holder to participate in the voting process for governance actions. This feature is part of Cardano's Voltaire upgrade and allows users to even register their own proposals. The Cardano Foundation emphasized:
Chang's hard fork today is a turning point for the Cardano blockchain, ecosystem and community; This upgrade fulfills the promise of a truly self-governing and decentralized network.
Through the CIP-1694 proposal, Chang implements such participatory governance that allows for direct voting or delegation of power to representatives. It also creates a constitutional committee and a new governance role for equity operators, which will be phased in over the next 90 days.
The second phase of this plan, which will probably be implemented in 2025; Helps monitor and facilitate community initiatives. This upgrade uses Plutus scripts to manage and support advanced voting mechanisms such as In addition, it helps to improve cryptography and new functions of smart contracts.
Cardano co-founder Charles Hoskinson noted:
The Cardano ecosystem has grown tremendously over the past years. The day will come when the community members of its entire ecosystem, that is, every ADA holder, will stand shoulder to shoulder, and they will all have a say in the future, not just about this protocol, but about what it can do for everyone in the world.
It should be noted that the price of Cardano
ADA:
It has decreased by 4% in the last day.
