Cardano's Chang Hard Fork Targeting Community-Run Governance Slated to Deploy in Two Phases
- 王林Original
- 2024-08-29 06:20:19951browse
One of the biggest upgrades on the Cardano network is set to be deployed in the next three days. It will introduce new features and finalize the blockchain's transition into a community-run network.
A major upgrade on the Cardano (ADA) network is set to be deployed in the next three days, introducing new features and completing the blockchain’s transition into a community-run network.
The Chang hard fork was initially scheduled to go live on August 27, according to an August 20 announcement; however, Cardano founder Charles Hoskinson revealed on August 23 that the launch had been moved to September 1, 2024.
According to Hoskinson, crypto exchanges like Binance and others need more time “to get their houses in order, so the rocket is going to wait on the pad, another epoch for the weather to get better.”
Breaking down the Chang hard fork
The development of the Cardano network is divided into five eras: Byron (foundation), Shelley (decentralization), Goguen (smart contracts), Basho (scaling), and Voltaire (governance).
Cardano entered the Voltaire era on May 30, 2024. This era will allow network participants and stakeholders to submit and vote on Cardano Improvement Proposals (CIPs) through the existing staking and delegation mechanism. The Chang hard fork will enable this functionality.
The Chang hard fork aims to implement a distributed on-chain governance framework, integrating a minimum-viable community-run governance structure as outlined in CIP-1694, handing over the maintenance of the network to the Cardano community.
The hard fork will be deployed in two parts, with the first part scheduled for September 1 and the second part to be implemented in Q4 2024.
A two-part upgrade
The first part will mark Cardano's entry into a technical bootstrapping phase, which will involve the creation of the Interim Cardano Constitution and the Interim Constitutional Committee (ICC). The interim constitution will guide Cardano's transition during the hard fork, and the ICC will act as a temporary governance body, upholding the principles of the constitution and exercising voting and veto rights on the first on-chain governance actions.
The main constitution will be drafted by the community during the Cardano Constitutional Convention, and a permanent Constitutional Committee will be created later this year.
The second part of the Chang hard fork will enable the network to exit the technical bootstrapping phase, introducing governing bodies such as Delegate Representatives (DReps) and stake pool operators (SPOs), as well as community-run treasury withdrawals.
These governing bodies, along with holders of Cardano's native ADA token and the Constitutional Committee, will be able to vote and veto on governance proposals, request ADA delegations, generate certificates, and execute treasury withdrawals.
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