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TheCryptoBasic

04/29/2024

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Cardano Investors Highlight Significance of Upcoming Chang Hard fork

Cardano community members are enthusiastic about the upcoming launch of the Chang hard fork, touting the upgrade as a game changer.  The upcoming launch of Chang hard fork has taken center stage in the...

Cardano Investors Highlight Significance of Upcoming Chang Hard fork

Cardano community members are enthusiastic about the upcoming launch of the Chang hard fork, touting the upgrade as a game changer. 

The upcoming launch of Chang hard fork has taken center stage in the Cardano community. With the pivotal update expected to go live this quarter, prominent Cardano enthusiasts have taken to X to state that the upgrade would be a major game-changer for the network. Prominent Cardano community members, including Chris, ADA Whale, saint, and Ed n’ Stuff, shared this sentiment. 

I hear the Chang hard fork is going to be an absolute game changer for #Cardano. 🔥 https://t.co/r35P28slMb

— Chris O (@TheOCcryptobro) April 26, 2024

Chang Hard Fork Impact on Cardano Governance 

For context, the Chang hard fork is part of the final stage of Cardano’s roadmap, Voltaire. The Voltaire phase aims to help Cardano become truly decentralized and self-sustaining.  

For Cardano to achieve this feat, the Chang hard fork needs to be implemented. Chang, which is slated for launch in Q2 2024, will introduce minimum-viable community-run governance. It marks the first technological upgrade of the Voltaire era. 

At the heart of the Chang hard fork lies its role in initiating Cardano’s governance journey throughout the year. The network’s decentralized governance mechanism will be initiated in three crucial phases. 

Phases of Cardano Decentralized Governance 

Cardano will see a new governance feature dubbed Delegate Representatives (DReps) in the first phase of the Chang hard fork. These representatives, elected by ADA holders, will advocate for the broader Cardano community’s interests and vote on all governance actions and proposals. 

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The second phase is centered on a constitutional convention slated to take place in Buenos Aires later this year. At the convention, governance representatives will converge in Argentina’s capital to compose the inaugural version of the highly anticipated Cardano Constitution. 

Lastly, the drafted Cardano constitution will undergo ratification, in which the broader community will vote on whether to adopt the proposed legislation. If ratified, the constitution will ultimately become the foundation of Cardano’s decentralized governance model. 

Notably, the drafting and ratification of the Cardano constitution will be finalized towards the end of the year. 

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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