Cardano has completed the Chang hard fork, marking an important step toward decentralized governance. The upgrade happened on September 1, 2024, at 9:44 PM UTC, when block 10764778 was recorded.
This marks the beginning of the “Voltaire” phase for Cardano, enabling ADA holders to propose and vote on governance issues directly. The fork, initially scheduled to occur earlier, was postponed by a week.
The primary goal of the Chang hard fork is to empower ADA holders by allowing them to directly propose and vote on governance issues. This is facilitated through the new Cardano Improvement Proposal (CIP-1694), which establishes a system for on-chain governance. This transition shifts control of the network’s future from centralized groups like Input Output Global (IOG) to the broader Cardano community.
Key components of the Chang hard fork include the creation of an Interim Constitutional Committee (ICC) and the introduction of Delegate Representatives (DReps).
The ICC will oversee the initial governance steps and ensure the interim constitution is followed during the transition. DReps will assist with decentralized decision-making, giving the community a more significant role in governance.
Additionally, the upgrade enhances Cardano’s scalability and security. It aims to make transactions faster and increase the network’s capacity to handle more transactions, thereby reducing congestion and costs for users. The Chang hard fork also introduces new security measures to protect against potential threats, making the network more resilient overall.
Praise for the upgrade
Frederik Gregaard, CEO of the Cardano Foundation, stressed the importance of this upgrade, saying it delivers on the promise of a self-governing, decentralized network. He mentioned that every ADA holder can now help shape the ecosystem’s future, encouraging collaboration and innovation within the community.
However, moving to fully decentralized governance comes with challenges. While the Chang upgrade is a big step forward, it’s only the first phase. A second phase is planned for about 90 days later, which will further improve ADA’s governance features.
Charles Hoskinson, co-founder of Cardano, praised the successful implementation of the Chang hard fork, noting that it boosts the network’s security and user trust.
Cardano is a decentralized blockchain platform that aims to provide a scalable, sustainable, and secure environment for developing decentralized applications (dApps) and smart contracts. Launched in 2017, it was developed by a team led by Charles Hoskinson, one of the co-founders of Ethereum.
Criticisms against Cardano
The project has faced backlash after dropping out of the top 10 rankings, with some skeptics claiming that Cardano’s progress lags behind other blockchain platforms. Frequent criticism has been leveled at its cautious, methodical approach, which often results in delays.
The reliance on academic research and intricate theories has been accused of complicating the technology unnecessarily, creating barriers to understanding and deterring developers and users.
Despite its robust technological basis, Cardano has encountered difficulties in establishing a wide user and developer base. Detractors highlight the platform’s struggle to achieve the same level of adoption as other leading blockchain platforms like Ethereum.
