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LOVELACE

On January 29, 2025, Cardano achieved the transition to full community governance with the enactment of the Plomin hard forkThe upgrade was enacted on-chain after the hard fork was approved by stake pool operators (SPOs) and the interim constitutional committee. This is a truly momentous achievement, not only for Cardano but for the entire blockchain industry.This is the first hard fork in blockchain's short history to be decided, approved, and enacted with the full involvement of the community rather than by a central authority. The decision began with <a href="https://cips.cardano.org/cip/CIP-1694">CIP-1694</a>, which was developed over two years and included community workshops. It is also the only hard fork to make such an epochal change to blockchain governance.From this instant, the future of the Cardano blockchain is determined by governance actions. Any ada holder can raise a governance action, and all ada holders can vote to accept or reject it. They can do this as individuals or by delegating their voting power to delegated representatives (DReps).About the hard forkThe Plomin hard fork is the second part of the Chang upgrade to Cardano. Initially known as Chang #2, it was renamed in memory of Matthew Plomin, a contributor <a href="https://medium.com/@USDMOfficial/for-immediate-release-6d923e801b80">to the Cardano community</a>.&nbsp;The Chang #1 upgrade moved the blockchain into a bootstrapping phase to prepare for the transition to full community governance. An essential feature of this phase was the creation and approval of a draft&nbsp; Cardano constitution in December, 2024.With the enactment of the Plomin hard fork, the system of voting by ada holders is fully established. One of the first tasks of the ada holders and DReps will be to ratify the delegate-endorsed constitution by on-chain voting, with one <a href="https://www.essentialcardano.io/glossary/lovelace-e5a2ab60">lovelace </a>counting as one vote.Governance actions explainedThere are seven types of governance action, shown in the following table.<img class="image_resized" style="width:1248px;" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXe-ghQvJgdF9TWSSVtEuyipmZ1TTNBP4NIcDz9gLu6aZ-hIadAJ6Q6vk1SpCIIIx6UuVLSSa_v7dxlhJo_93FlSXmv1xJO4IZRkynw4TDr-dZCSqk5PcQnPZFyiFft_yBkMM4DpCtKRMlgwr-nMhUg?key=GnqoPahuNflxnukHDMghsjKY" loading="lazy">Staking RewardsThe community should note that although post-Plomin staking rewards will continue to be earned as usual, ada holders must delegate to a DRep to withdraw their rewards following the Plomin hard fork. The delegation can be one of the predefined options, a single key, an active script, or a Plutus v3 script.&nbsp;Keep informed&nbsp;Join the dedicated Plomin hard fork Discord channel at <a href="https://discord.gg/Hxtz9f38Ep">#hfwg-plomin</a>.The Intersect knowledge base has been updated, and information about the Plomin hard fork can be found in the refreshed Cardano<a href="https://intersect.gitbook.io/cardano-upgrades"> Updates</a> space.We recommend bookmarking this page and checking back often, as the hard fork working group regularly updates details. The <a href="https://docs.intersectmbo.org/cardano/cardano-governance">Knowledge base</a>, guides, and FAQs on <a href="https://gov.tools/">GovTool</a> contain information on the constitution and on-chain governance.

Intersect

Chang upgrade completed - Plomin hard fork achieved!

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<li>The first stage of the much-anticipated Chang hard fork in <a href="https://blockzeit.com/currencies/cardano" target="_blank">Cardano</a> just went live.</li>
<li>The upgrade empowers ADA token holders to have more active participation in shaping the future of the chain’s governance structure.</li>
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A <a href="https://docs.cardano.org/about-cardano/evolution/about-hard-forks/" target="_blank">hard fork</a> marks a significant update in a blockhain’s programming. It normally paves the way for a change from one protocol to another. The event also brings about new rules in the chain.
In the case of the Chang hard fork, the milestone reels in changes that will help the Cardano layer-1 blockchain shift toward a decentralized governance model. The upgrade democratizes control of the network to ADA holders by allowing them to elect governance representatives and vote on on-chain development proposals.
Moreover, the upgrade enhances <a href="https://cardano.org/what-is-ada/" target="_blank">ADA’s utility</a> beyond its digital currency or exchange value propositions. Before the shift, ADA, which derived its name from the 19th-century mathematician Ada Lovelace, was limited to its use as a secure medium of exchange without the need for an intermediary and a way to get rewards through Cardano’s staking mechanism.
<h2 id="h-cardano-s-interim-governance">Cardano’s Interim Governance</h2>
In the initial phase of the Chang upgrade, Cardano will be governed by an Interim Constitutional Committee. The body will oversee the blockchain’s governance during the transition phase.
Cardano will activate the upgrade’s second phase in around 90 days. During this time, the blockchain will eventually empower the participation of qualified community members in the network’s governance bodies.
Once all the pieces of the puzzle are in place, it will ultimately usher in the <a href="https://roadmap.cardano.org/en/voltaire/" target="_blank">Voltaire era</a> of Cardano. Simply put, this event will transform the blockchain into a self-sustaining system with full decentralization. This would be the realization of the foundation’s long-term vision since its inception.
<h2 id="h-charles-hoskinson-s-official-statement">Charles Hoskinson’s Official Statement</h2>
Charles Hoskinson, Cardano and Ethereum’s co-founder, recently shared his reflections following the activation of the upgrade. According to his lengthy post on X, the blockchain’s transformation is “one of the greatest technical achievements in human history.”
For him, it further strengthens the distributed system that operates in over 100 countries and never shuts down. It should be noted, however, that Cardano had indeed undergone a <a href="https://cardanospot.io/news/cardano-node-outage-what-we-know-0" target="_blank">downtime in January last year</a>, which resulted in the drop off of 50% to 60% nodes from the network. The incident marked the first-time in five years for the platform.
Hoskinson added that the feat also “dwarfs <a href="https://blockzeit.com/currencies/bitcoin/" target="_blank">Bitcoin</a>” in magnitude due to its uniqueness. He further described Cardano as “a governance virus that is living, self-replicating, and self-sustaining.”
“It has intelligence and a will to survive and grow,” he went on. “Nothing can shut it down. Nothing can stop its growth.”
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<blockquote><div>One of the deepest lessons I've taken to heart over the past decade is that becoming a public figure means you turn into a human rorschach test where those who don't like you will take any post or comment and assume the worst possible interpretation. Working on Cardano this…</div>— Charles Hoskinson (@IOHK_Charles) <a href="https://twitter.com/IOHK_Charles/status/1830503449433342129?ref_src=twsrc%5Etfw" target="_blank">September 2, 2024</a></blockquote>
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		<img alt="Giancarlo Perlas" src="https://blockzeit.com/wp-content/uploads/2024/04/Giancarlo-Perlas.png" srcset="https://blockzeit.com/wp-content/uploads/2024/04/Giancarlo-Perlas.png 2x" />		
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				Giancarlo is an economist by profession with a career spanning nearly two decades. His professional journey has seen him assume vital roles in various government and private organizations such as the Department of the Interior and Local Government (DILG), the National Economic and Development Authority (NEDA), Megaworld Corporation, and the China Banking Corporation in the Republic of the Philippines.
In addition to his civic and corporate pursuits, his forward-thinking approach has led him to manage several prominent websites in the banking and finance sector, notably the Australia-based RateChoice, where he immersed himself in the world of emerging financial technologies and where he found particular interest in Bitcoin all the way back to 2013.
Prior to his addition to Blockzeit’s dynamic team, he held an essential role as Project Manager for initiatives encompassing blockchain, stablecoin, mining, special economic zone development, and iGaming. This noteworthy chapter in his career unfolded under the auspices of InPlan Consultancy Services, Inc., the think-tank of IMPERO Consortium Management Corporation headquartered in Manila, Philippines, and Tokyo, Japan. InPlan, led by a distinguished retired Cabinet member of the Philippines, collaborates directly with IMPERO's core management team, contributing to strategic planning and business development endeavors.			
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Blockzeit

Cardano Enters The First Stage Of The Chang Hard Fork - Blockzeit

Cryptodaily.io

Cardano vs Solana (2024): Is Cardano or Solana better?

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								The Cardano community has successfully completed the voting process for the inaugural members of its Interim Constitutional Committee (ICC). This committee is tasked with upholding the <a href="https://bitcoinist.com/cardano-foundation-gears-up-chang-hard-fork/" target="_blank">interim Constitution</a> and overseeing the initial on-chain governance decisions on the Cardano blockchain.
<h2>Cardano Concludes Crucial Vote</h2>
A total of 21 candidates, representing a broad spectrum of the community, applied for a position on the ICC. The election process <a href="https://www.intersectmbo.org/news/meet-the-interim-constitutional-committee" target="_blank">saw</a> significant engagement, with over 455 million ADA tokens staked and 1,947 unique votes cast. The community members participated in a transparent, ranked-choice voting system to elect their top three representatives.
The elected committees are as follows:
Cardano Atlantic Council received the highest number of votes, securing 51.4% with 232,162,950,759,731 Lovelace (ADA’s smallest unit). The council consists of six members from diverse backgrounds, including Adam Dean and Jennifer Brito from the USA, Beatrice Anihiri from Norway, Mike Hornan from Canada, Thiago Nunes from Brazil, and Richard McCracken from the USA.
Cardano Japan, comprising all Japanese members Seira Yun, Shusuke Wakuda, Rena Oishi, and Hideki Takeshi, garnered 18.7% of the votes, translating to 84,639,727,186,264 Lovelace.
Eastern Cardano Council, a multi-national group featuring Jo Allum from New Zealand, Mark Byers and Phil Lewis from Australia, Oscar Hong from South Korea, Ha Nguyen from Vietnam, and Yuki Oishi from Japan, received 10.3% of the votes, amounting to 46,481,326,751,056 Lovelace.
The positions of alternate members are held by Mauro Agustín Andreoli (Argentina), Scientific Analytical Tools LLC (UAE), and Joshua Stone (USA), which received the fourth to sixth most votes. These individuals and entities will serve as replacements should any of the top three councils be unable to fulfill their roles on the ICC. This provision ensures continuity and resilience in the <a href="https://bitcoinist.com/cardano-founder-crucial-update-chang-fork/" target="_blank">governance framework</a> of Cardano.
Patrick Tobler, CEO of NMKR, expressed strong confidence in the newly elected committee, remarking, “I feel very confident about these results. The Cardano Community will be very well represented in the Interim Constitutional Committee.” This sentiment reflects the community’s trust in the democratic process and the selected members’ capabilities to guide Cardano through its next phase of governance.
Intersect has announced that the onboarding process for the elected members will begin shortly. In addition to setting up the new committee, Intersect is also calling for applications to form its own Constitutional Council. This council will represent one of the votes on the ICC, extending an opportunity to those who were not elected in this round to still play a significant role in governance.
Looking ahead, the drafting of Cardano’s final Constitution is scheduled to commence in August. This will involve more than 50 workshops globally and is expected to culminate in a Constitutional Convention in Buenos Aires this December. The final Constitution will lay down the foundational governance framework, shaping its trajectory for years in the <a href="https://bitcoinist.com/cardano-new-era-decentralized-governance/" target="_blank">Voltaire era</a>.
At press time, ADA traded at $0.389.
<figure><img src="https://bitcoinist.com/wp-content/uploads/2024/06/ADAUSD_2024-06-28_15-23-33.png?resize=1024%2C473" alt="Cardano ADA price" srcset="https://bitcoinist.com/wp-content/uploads/2024/06/ADAUSD_2024-06-28_15-23-33.png?resize=1024%2C473?w=3628 3628w, https://bitcoinist.com/wp-content/uploads/2024/06/ADAUSD_2024-06-28_15-23-33.png?resize=1024%2C473?w=640 640w, https://bitcoinist.com/wp-content/uploads/2024/06/ADAUSD_2024-06-28_15-23-33.png?resize=1024%2C473?w=768 768w, https://bitcoinist.com/wp-content/uploads/2024/06/ADAUSD_2024-06-28_15-23-33.png?resize=1024%2C473?w=980 980w, https://bitcoinist.com/wp-content/uploads/2024/06/ADAUSD_2024-06-28_15-23-33.png?resize=1024%2C473?w=1536 1536w, https://bitcoinist.com/wp-content/uploads/2024/06/ADAUSD_2024-06-28_15-23-33.png?resize=1024%2C473?w=2048 2048w, https://bitcoinist.com/wp-content/uploads/2024/06/ADAUSD_2024-06-28_15-23-33.png?resize=1024%2C473?w=750 750w, https://bitcoinist.com/wp-content/uploads/2024/06/ADAUSD_2024-06-28_15-23-33.png?resize=1024%2C473?w=1140 1140w, https://bitcoinist.com/wp-content/uploads/2024/06/ADAUSD_2024-06-28_15-23-33.png?resize=1024%2C473?w=3000 3000w" /><figcaption>ADA price bounced off the 0.786 Fib, 1-day chart | Source: <a href="https://www.tradingview.com/x/W4StPOYq/" target="_blank">ADAUSD on TradingView.com</a></figcaption></figure>
Featured image from Shutterstock, chart from TradingView.com
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Bitcoinist

Cardano Completes Crucial Vote For Constitutional Committee

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