Cardano

Major

2024

Foundation

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
The <a href="https://u.today/cardano-community-issued-urgent-scam-alert-heres-what-happened" rel="noopener noreferrer nofollow">Cardano community</a> is buzzing with expectation as the much-awaited Chang 2 hardfork brings two significant updates this week.
In a recent tweet, <a href="https://x.com/IntersectMBO/status/1856650062346039737" rel="noopener noreferrer nofollow">Intersect</a>, a member-based organization for the Cardano ecosystem, announced two major updates for the Cardano community this week: the preproduction hard fork governance action and the Daedalus governance update.
<blockquote class="twitter-tweet">
 <a href="https://t.co/jjRjMMhCmy" rel="noopener noreferrer nofollow">https://t.co/jjRjMMhCmy</a>— Intersect (@IntersectMBO) <a href="https://twitter.com/IntersectMBO/status/1856650062346039737?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 13, 2024</a>
</blockquote>
Intersect informed the Cardano community that the hardfork initiation governance action for the preproduction environment is now live. If enacted, this action is expected to bring protocol version 10.0 and full governance to PreProd.
Intersect noted that the update was based on experience and community feedback from the first Chang upgrade, which suggested that the time to test in preproduction needed to be increased before the mainnet hardfork. This governance action now looks to address this concern.
This action follows the ratification of the PreProd Protocol Parameter update, which updates the PlutusV3 cost model in preparation for the Chang hardfork. This parameter update includes new costs, which will enable the use of new Plutus primitives post-hardfork. The hardfork will be enacted on-chain once the governance action has sufficient SPO and ICC votes.
The second key update is the Daedalus governance update. Daedalus 7.0.0 will allow users to delegate their voting power to delegated representatives (DReps) or opt for an automatic voting option, ensuring that the Daedalus community has a say in Cardano's success.
<h2 id="cardano-foundation-launches-first-financial-insights-report">Cardano Foundation launches first Financial Insights report</h2>
The Cardano Foundation, an independent, <a href="https://x.com/F_Gregaard/status/1856672504342818855" rel="noopener noreferrer nofollow">Swiss-based</a> nonprofit organization dedicated to the advancement of Cardano's public digital infrastructure, launched its first Financial Insights Report today.
The report marks an important milestone in the organization's continuous dedication to the principles of transparency, ethics and community participation.
In 2023, the Cardano Foundation allocated $19.22 million to its three mutually reinforcing focus areas of operational resilience, education and adoption. In addition, $4.55 million were set aside for central operational costs as the Cardano Foundation increased its ability to support and drive crucial initiatives.
As of Dec. 31, 2023, the Cardano Foundation's assets were $478.24 million, with 82.5% owned in ADA, 10.1% in BTC and the remaining in USD liquidity. The Cardano Foundation will issue its next Activity Report 2024 in the first quarter of 2025, providing thorough insights into the initiatives and accomplishments of 2024. <a href="https://u.today/major-week-for-ada-cardanos-chang-hardfork-delivers-two-key-updates" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Major Week for ADA: Cardano's Chang Hardfork Delivers Two Key Updates

Table of Contents

U_Today

Other articles published on Nov 13, 2024

Delhi Police Arrests Bengal Man in ₹2000 Cr WazirX hack

Robinhood Crypto Now Supports Solana Trading Again

Shiba Inu Lead Dev: It’s Time We Showcased SHIB Power

BTFD: The Next Meme Coin Sensation or Crypto Trend?

10 Best Cryptocurrencies To Invest In Now For 2024

Satoshi-Era Bitcoin Whale With 636,437% Gains Transfers out First BTC in Years

Join our free newsletter for daily crypto updates!