- The introduction of delegate representatives (DReps) aims to advocate for Cardano community interests through ADA delegation.
- The Cardano Constitution Convention convenes in Buenos Aires to draft the inaugural Cardano Constitution, guiding decentralized governance principles.
- A community-wide vote on the ratification of the Cardano Constitution could potentially shape the future direction of the blockchain.
Cardano (ADA) enthusiasts worldwide are eagerly awaiting the highly anticipated Chang hard fork, slated to take place in the second quarter of 2024.
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At the heart of the Chang hard fork lies its pivotal role in kickstarting the process of establishing community-driven governance within the Cardano ecosystem throughout the year 2024. The hard fork is set to unfold in three distinct stages, each playing a crucial part in reshaping the governance landscape of the blockchain platform.
First and foremost, the introduction of delegate representatives (DReps) stands out as a groundbreaking initiative aimed at fostering greater community engagement. These elected representatives will be tasked with advocating for the interests of Cardano users, offering them the opportunity to delegate their ADA holdings and actively participate in governance decisions.
Following this initial phase, the spotlight will shift to the Cardano Constitution Convention, a landmark event set to take place in Buenos Aires. Here, governance representatives from workshops held across the globe will converge to collaboratively draft the inaugural version of the Cardano Constitution.
The culmination of these efforts will be marked by a community-wide vote on the ratification of the Cardano Constitution. If approved, this constitution will serve as the cornerstone of decentralized governance mechanisms, steering the future trajectory of the Cardano platform.
In addition to these significant governance milestones, the Chang hard fork will introduce two key upgrades: Chang Upgrade Number One and Chang Upgrade Number Two. These enhancements, as outlined in CIP-1694, will facilitate the implementation of crucial governance features, including decentralized voting mechanisms and treasury withdrawals.
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