- Chang Hard Fork will be launched on July 16th.
- Charles Hoskinson will retire from the leadership of his company, along with others.
After weeks of speculation Cardano [ADA] Charles Hoskinson announced officially the Chang Hard Fork launch.
Chang is a part of Cardano’s Roadmap, which includes five periods, Byron, Shelley goguen basho and Voltaire. Voltaire is the current period (which involves governance) and it will begin after the Chang Hard Fork.
Cardano says that the Chang Hard Fork can be crucial in changing Cardano governance. It will create a new constitutional order that includes on-chain votes and democratic rights.
Source: X
Following the announcement of by Hoskinson. He clarified in his report that Chang would be released on July 16th.
In his live video on his X official page, he clarified that.
“Node 9.0.0: Chang hard fork is ready.”
Further, he added:
“Once we hit the threshold of 70% SPOs, we are now on the age of fork.”
Source: X
Hoskinson went on to explain how Cardano would be able to have its say. The community votes on the budget, and will also vote for other activities.
The leaders of Argentina will base their work on the interim constitution and aim to hold a convention for Argentines at the end the year.
Charles Hoskinson won’t be working as part the government on chain under the new government. He will continue to work with the development team.
What contribution will Chang Hard Fork make to Cardano
The main objective of the Chang Hard Fork is community-centric governance. Cardano hopes that community-run governments will achieve decentralization.
This approach incorporates on-chain vote, which ensures a transparent decision-making.
Click Here to Read Cardano’s [ADA] Price Prediction 2024-25
What is the significance of this?
Chang’s hard fork has a significant impact on the ecosystem of blockchain. Cardano’s new model is aimed at achieving the core element of blockchain, the decentralization and autonomy of government.
The success of the model in this case will create a precedent for the blockchain industry, allowing it to address the problems that arise from centralized government. Blockchain is designed to eliminate these issues.
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Source: ambcrypto.com
