The Chang Hard Fork Ushers in Cardano's Voltaire Era, Empowering ADA Holders with Decentralized Governance

The Cardano blockchain has recently undergone a significant transformation with the implementation of the Chang Hard Fork. This upgrade marks a pivotal shift towards decentralized governance, empowering ADA token holders with greater control over the network's future.

Cardano's recent Chang Hard Fork introduces a new decentralized governance structure, shifting the power to initiate upgrades from Cardano's founding entities to the community. ADA holders can now elect governance representatives and vote on crucial development proposals.

Despite the new governance model, ADA holders will not lose their staking rewards. Instead, they can choose to participate in governance by voting, abstaining, or delegating their voting power to a dRep.

This marks the beginning of Cardano's Voltaire Era, which will see the complete implementation of the new governance model over the next 90 days. The Interim Constitutional Committee will temporarily oversee governance to ensure a smooth transition.

Cardano's ADA token has gained nearly 2% in the last 24 hours, trading at $0.32 at the time of writing.

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