Cardano

2024

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The <a href="https://u.today/cardanos-groundbreaking-fee-mechanism-adopted-by-this-l1-blockchain-details" rel="noopener noreferrer nofollow">Cardano</a> blockchain's two-part Chang Hard Fork represents a major upgrade that will enhance network functionality and decentralized governance.
On Sept. 1, Chang 1, the first phase of the Chang Hard Fork, was activated, bringing crucial improvements such as empowering the Interim Constitutional Committee.
In November 2024, the process to enact the second phase of the Chang upgrade is expected to kick off in full swing, ushering in a critical phase for Cardano’s governance evolution. Chang 2 will require five governance actions to be successfully enacted on-chain.
The current roadmap anticipates a prerelease of Cardano node v10 for testing in mid-October. This crucial phase will initiate thorough testing across multiple environments, starting with the preview and preprod testnets.
This second controlled <a href="https://u.today/cardano-announces-crucial-date-for-chang-hard-fork-details" rel="noopener noreferrer nofollow">Chang hard fork</a> will complete the metamorphosis of Cardano to the age of Voltaire. This culmination of the Chang upgrade will mark a watershed moment for Cardano’s governance, marking a pivotal shift that will have far-reaching and long-term consequences for the whole ecosystem.
<h2 id="what-to-expect">What to expect</h2>
The second phase of the Chang Hard Fork is <a href="https://x.com/emurgo_io/status/1851249460640432518" rel="noopener noreferrer nofollow">expected</a> to bring even more advancements. In a recent tweet, Emurgo, a founding entity of Cardano, outlined five updates to potentially expect.
<blockquote class="twitter-tweet">
 💥 The Cardano blockchain's two-part Chang Hard Fork is a significant upgrade to enhance network functionality and decentralized governance. The launch of the first phase of Chang Hard Fork brought crucial improvements such as empowering the Interim Constitutional Committee.The… <a href="https://t.co/0QPIpvZDOp" rel="noopener noreferrer nofollow">pic.twitter.com/0QPIpvZDOp</a>— EMURGO (@emurgo_io) <a href="https://twitter.com/emurgo_io/status/1851249460640432518?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 29, 2024</a>
</blockquote>
First is Delegate Representative (DRep) Voting. Introducing Delegate Representative (DRep) Voting aims to strengthen the community's voice. DReps will be one of the key governing bodies in Cardano's governance framework, able to vote on ideas and governance actions on behalf of the whole community.
SPO (Stake Pool Operator) voting will also be a key upgrade in the Chang phase 2. Through this update, SPOs will gain voting power by leveraging the stakes delegated to their pools, altering their role in Cardano's future decentralized governance to one of greater participation.
The Cardano Chang 2 upgrade will also usher in governing actions; here, community members will be encouraged to propose governance actions. Anybody in the community will be able to initiate a proposal with a small ADA deposit, which will be refunded after voting ends. The proposal will go through a voting procedure with DReps and SPOs to verify that the results match the Cardano community's vision.
Another update to be expected is Treasury Withdrawal. To carry out the approved governance actions, a treasury withdrawal system will be deployed. Approved governance actions will receive funding allocated directly from Cardano’s treasury. This system will allow community members to shape treasury funds, promoting the Cardano network's long-term growth. <a href="https://u.today/five-things-to-expect-in-cardanos-upcoming-chang-2-upgrade" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Five Things to Expect in Cardano's Upcoming Chang 2 Upgrade

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