Logo
Cardano Ecosystem

Cryptoslate

09/02/2024

·

212 views


Hoskinson hails Cardano's Chang hard fork as 'dwarfing' Bitcoin

Hoskinson hails Cardano’s Chang hard fork as ‘dwarfing’ Bitcoin 26 seconds ago · 2 min read Cardano completes first step to full decentralized governance with Chang hard fork 2 min readUpdated: Sep....

Hoskinson hails Cardano's Chang hard fork as 'dwarfing' Bitcoin

Hoskinson hails Cardano’s Chang hard fork as ‘dwarfing’ Bitcoin Hoskinson hails Cardano’s Chang hard fork as ‘dwarfing’ Bitcoin 26 seconds ago · 2 min read

Cardano completes first step to full decentralized governance with Chang hard fork

2 min read

Updated: Sep. 2, 2024 at 10:46 am UTC

Hoskinson hails Cardano’s Chang hard fork as ‘dwarfing’ Bitcoin

Web Summit / CC BY 2.0 / Flickr. Remixed by CryptoSlate

On Sept. 1, the Cardano blockchain completed the first phase of its Chang hard fork, signaling a new era of decentralized governance for the network.

The upgrade is a significant achievement for Cardano, marking a pivotal step toward fulfilling its vision of a fully self-governing, decentralized network. The move is also said to set it apart as the first major blockchain to implement a token-based governance system.

Charles Hoskinson, Cardano’s founder, described this achievement as monumental, surpassing even Bitcoin, stating, “This dwarfs Bitcoin. It’s unique, and books will be written about what has happened.”

Hoskinson emphasized that Cardano’s accomplishment is one of humans’ most significant technical feats because a distributed system operating across more than 100 countries seamlessly evolved into a decentralized entity, complete with its constitution, without central coordination.

Hoskinson further commented:

“Cardano is now a governance virus that is living, self- replicating, and self-sustaining. It has intelligence and a will to survive and grow. Nothing can shut it down. Nothing can stop its growth.”

However, despite the monumental achievement, the blockchain network’s ADA token saw no gain, declining by 4% during the past day to slip out of the top 10 cryptocurrencies by market capitalization, according to CryptoSlate’s data.

What’s Next?

The initial phase of the upgrade, lasting 90 days, introduces foundational governance features and prepares for the upcoming Conway-era functionality. During this period, delegated representatives (DReps) can register, and ADA holders can delegate their voting power.

An interim constitution will also be established, supported by a technical guardrail script. Further, an interim constitutional committee will oversee the constitutionality of governance actions until a full constitution is ratified.

This period will also be a testing ground for limited governance actions, including parameter changes, hard forks, and ‘Info’ actions.

After 90 days, the second phase of the Chang hard fork will commence, fully empowering the new governance bodies, including the constitutional committee, delegate representatives, and staking pool operators.

The Cardano Foundation noted:

“All governance entities, including DReps, SPOs, and the interim constitutional committee, can vote on governance actions during this stage. The conclusion of this stage will allow for treasury withdrawals.”

Mentioned in this article
Latest Cardano Stories
Latest Press Releases
AD

Proposals Catalyst F14 - Cast your vote, search "Otavio" in the Voting App.

If you are you using your ADA to vote in Cardano’s Project Catalyst don’t forget to voice your vote. We would be excited if you can see, comment, share and vote for us. Tip: To find them its easiest to search for "Otavio"Vote for Us


Read Original Article on Cryptoslate

ORIGINAL SOURCE

https://cryptoslate.com/hoskinson-hails-...

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.


More from Cryptoslate

See more
Hashdex files to add SOL, ADA, XRP to crypto index ETF under new SEC standards
Cryptoslate
Hashdex files to add SOL, ADA, XRP to crypto index ETF under new SEC standards

09/23/2025

·

22 views

Related News

See more
Banner-Tech-Summit-Rio

Voting for Us - Catalyst Fund 14

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)