To dive deeper, check out the complete article from original source:
https://droomdroom.com/cardano-chang-hard-fork-explained/
The Chang Hard Fork, implemented on September 1, 2024, marks Cardano’s transition into the Voltaire era, emphasizing decentralized governance. 🚀 This upgrade allows ADA holders to directly influence the network’s future through on-chain voting, replacing centralized control from entities like IOG and Emurgo. Key features include the introduction of Delegate Representatives (DReps) to streamline decision-making, an Interim Constitution to guide governance, and a major upgrade to Cardano’s smart contract language, Plutus V3, enhancing scalability and security. 🔐
The hard fork unfolds in two phases. Phase 1 sets the groundwork with basic governance structures, while Phase 2, expected in late 2024, will activate full on-chain voting, empowering the community further. 🗳
Cardano’s Chang Hard Fork is distinct compared to other blockchain upgrades like Ethereum’s London Fork or Bitcoin Cash’s split, as it prioritizes community-driven governance. However, there are potential risks, such as community disengagement or market volatility during the transition. 💡
Overall, the Chang Hard Fork is not just a technical upgrade but a significant moment in Cardano’s evolution, setting a new precedent for decentralized governance. 🌍 As Giorgio Zinetti, CTO of Cardano Foundation, said, “This is the biggest event in Cardano history.”
