- Cardano’s Chang hard fork hits 72% of nodes, signaling a significant step toward enhanced network decentralization and governance.
- The second phase of the Chang hard fork introduces a new governance model, empowering ADA holders to participate actively in the network’s future.
- Charles Hoskinson visualizes Cardano’s future as a decentralized network with a controlled constitution and fair resource distribution.
Cardano (ADA) is launching the much-anticipated Chang hard fork, a crucial update to advance network decentralization. Over 72% of nodes have signaled their readiness for the new version, a milestone indicating that the fork’s official announcement could be imminent.
Cardano Introduces New Governance Model in Chang Hard Fork’s Second Phase
The Chang hard fork is designed to boost decentralization and improve coordination among nodes without relying on central oversight. This update will depend on nodes running version 9.1.0, and its success will depend mainly on widespread adoption across the network. Although many exchanges have already updated their nodes, the community still waits for significant platforms like Coinbase and Binance to complete their upgrades.
In the second phase of the Chang hard fork, Cardano plans to introduce a new governance model proposed by the Intersect organization. This phase will include the formation of a seven-member interim constitutional committee, which will feature representatives from the community. This phase will help ADA holders take a more active role in governance, moving beyond merely staking their tokens to actively proposing and voting on future network changes.
Cardano’s Upcoming Upgrades Shift Toward Community Governance
Cardano’s creator, Charles Hoskinson, continues to guide the project, focusing on building a truly decentralized network. His long-term vision includes drafting a network constitution, which the community will drive. The total supply of ADA is capped at 45 billion, with a 1 billion ADA treasury set aside for allocation based on community votes. This approach ensures a balanced and fair distribution of resources within the network.
As the Cardano community awaits the final steps before the Chang hard fork is fully implemented, the upcoming upgrades signal a significant shift towards greater decentralization and community-driven governance.
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