- Chang Hard Fork is set to launch on the 16th of July.
- Charles Hoskinson and others will step down from their leadership roles.
As an analyst with extensive experience in the blockchain industry, I believe the Chang Hard Fork is a pivotal moment for Cardano and the broader cryptocurrency ecosystem. The introduction of community-centered governance through on-chain voting is a significant step towards achieving complete decentralization of the Cardano blockchain.
As a dedicated Cardano [ADA] investor, I’ve been eagerly following the buzz surrounding the upcoming Chang Hard Fork for weeks. And finally, the wait is over! Co-founder Charles Hoskinson has officially made the announcement, putting an end to the speculation and excitement in the community.
I, as an analyst, would express it this way: I’m currently analyzing the Cardano project’s development roadmap, which is divided into five distinct phases: Byron, Shelley, Goguen, Basho, and Voltaire. At present, we’re in the Voltaire era, which primarily focuses on governance. This shift to Voltaire will officially begin post-Chang Hard Fork launch.
The Cardano team asserts that the Chang Hard Fork is crucial for instituting a new governance structure in Cardano, which includes on-chain voting and the establishment of democratic rights.
As the analyst, I’m excited to share that after much anticipation, the long-awaited launch date for Chang has finally been disclosed by Hoskinson. In my latest analysis, I confirm that Chang is scheduled to be rolled out 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.”
Additionally, Hoskinson elaborated on the role of the Cardano community in decision-making processes. They will be granted the power to vote on the budget and various initiatives.
According to the present transitional constitution, Argentine leaders are planning to convene a constitutional convention by the end of the year.
With the arrival of the new administration, my role in the on-chain governance will no longer apply to me, Charles Hoskinson. However, I will continue to be an integral member of the development team.
What will Chang Hard Fork contribute to Cardano?
The primary objective of the Chang Hard Fork is to instate community-led governance within the Cardano blockchain. By implementing community-administered governments, we aim to fully realize decentralization.
As a result, this method will include on-chain voting for a transparent and validated decision-making procedure.
Read Cardano’s [ADA] Price Prediction 2024-25
Why does it matter?
In the realm of blockchain technology, the Chang hard fork holds great importance. A key feature of blockchains is their decentralized decision-making process, which is a primary objective for Cardano’s new governance model.
As a crypto investor, I believe that the achievement of success with this decentralized model will pave the way for future projects in the blockchain industry. By avoiding the pitfalls of centralized governance, which is one of the primary reasons why people turn to blockchain technology in the first place, we can establish a strong foundation for the development of this innovative field.
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2024-07-10 01:11