Cardano (ADA) founder Charles Hoskinson recently clarified the status of the highly anticipated Chang hard fork, dispelling rumors of a June launch. In a statement, Hoskinson emphasized that while the fork-ready node is available, the next step hinges on stake pool operators (SPO) updating their systems. This process typically takes around a month, suggesting the actual hard fork could occur sometime in July or August.
The Chang hard fork is a pivotal moment for Cardano, marking its entry into the Voltaire er,– a phase focused on decentralized governance. This upgrade ushers in a new era for the ADA community, granting them significant control over the network’s future.
From Speculation to Action: The Path Towards Decentralization
Prior to Hoskinson’s update, rumors swirled around a June launch date for the Chang hard fork. However, his clarification highlights a crucial step: SPOs need to test and update their systems before the fork can proceed. This underscores Cardano’s commitment to a smooth transition, ensuring all stakeholders are prepared for the upcoming changes.
The significance of the Chang hard fork lies in its potential to transform Cardano into a fully decentralized entity. With the introduction of on-chain governance, ADA holders will have a direct say in shaping the network’s future. This includes voting on proposals, managing an annual budget, and overseeing a community treasury currently valued at nearly $700 million.
Three Stages to Empower the Community
Cardano’s transition to decentralized governance will unfold in three key stages. The first stage introduces Delegate Representatives (DReps). This allows ADA holders to delegate their voting rights, simplifying the participation process. Registration for DReps is expected to begin soon, potentially paving the way for community involvement in the coming months.
The second stage involves the Cardano Constitutional Convention. Here, representatives will draft a foundational document outlining the rules and principles governing Cardano’s decentralized future. This constitution will then be presented to the community for ratification later this year.
A Crucial Step for Cardano’s Future
The Chang hard fork represents a significant leap forward for Cardano. By empowering the community through on-chain governance, Cardano is placing the future of the network directly in the hands of its users. As the community prepares to participate in upcoming votes and potentially shape the Cardano constitution, the coming months will be a period of immense anticipation for the ADA ecosystem.
