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Cardano’s Chang Hard Fork is Set for Launch on July 16th

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  • Chang Hard Fork is set to launch on the 16th of July.
  • Charles Hoskinson and others will step down from their leadership roles.

After weeks of speculation, Cardano [ADA] co-founder Charles Hoskinson has officially announced the launch of the Chang Hard Fork.

Chang is part of the Cardano Roadmap that includes five periods: Byron, Shelley, goguen, basho, and Voltaire. The current era (Voltaire) involves governance and will kickstart following the launch of the Chang Hard Fork.

According to the Cardano team, the Chang Hard Fork will be critical in transforming Cardano’s governance through a constitutional order comprising on-chain voting and democratic rights.

Source: X

Notably, after a long wait, Chang’s launch date is now clear following the announcement by Hoskinson. In his report, he clarified that the Chang will be released on the 16th of July.

On his live broadcast on his official X page, he explained that,

“Node 9.0.0: Chang hard fork is ready.”

He further added,

“Once we hit the threshold of 70% SPOs,  we are now on the age of fork.”

Source: X

Further, Hoskinson explained how the Cardano community would have a say in governance. Where the community will vote for the budget and other activities.

Based on the current interim constitution, the leaders will work towards a constitutional convention in Argentina at the end of the year.

Under the new government, Charles Hoskinson will not work as part of the on-chain government but will remain as part of the development team.

What will Chang Hard Fork contribute to Cardano?

Chang Hard Fork’s main goal is to introduce community-centered governance. The use of community-run governments hopes to achieve complete decentralization for the Cardano blockchain.

Therefore, the approach will incorporate on-chain voting, ensuring a transparent and verifiable decision-making process.


Read Cardano’s [ADA] Price Prediction 2024-25


Why does it matter?

The Chang hard fork is very significant within the blockchain ecosystem. The core aspect of blockchain is the decentralization of governance, which the Cardano new model aims to achieve.

Therefore, the success of this model will set a precedent in the blockchain industry to avoid the issues arising from the centralized governance that blockchain seeks to prevent.



Read More: Cardano’s Chang Hard Fork is Set for Launch on July 16th

2024-07-09 22:01:54

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