The upcoming Chang hard fork will completely change the Cardano blockchain. It will start the Voltaire era and solidify the company’s move toward decentralized government.
A well-known Cardano stake pool operator (SPO), Stake with Pride, has outlined three key conditions that must be met for this new update to go live.
The first thing that needs to happen for the upgrade to happen is for 70% of Cardano’s stake pool owners to use node version 9.1. This version is necessary to add important features that are specific to the hard fork and are meant to make the network work better and more efficiently.
Cardano’s Governance Evolution
The Voltaire phase is an important turning point in Cardano’s history because it gives ADA holders the power to take part in community-driven government. Stakeholders will be able to decide on proposals that will shape the future of the blockchain. This will make the decision-making process more open and inclusive.
For the second reason, the change means that seven ICC councils have to get new Genesis keys. These keys, which were first given to founding entities like IOHK and Emurgo, will be phased out over time to spread out power over governance.
The goal of this strategic move is to spread power throughout the community, making the environment stronger and more self-sufficient.In the end, for the Chang hard fork to work, centralized exchanges (CEXes) and ecosystem services need to work together to update their supporting systems.
This alignment is very important for keeping the network safe and stable, so that ADA trading and staking can continue without any problems during the transition time and afterward.One of Cardano’s founders, Charles Hoskinson, was excited about the update that was planned and said it could make one of the most advanced blockchain government systems ever.
With the Chang hard fork, things like decentralized voting, managing the treasury, and setting up constitutional bodies are added. They want the Cardano community to depend less on centralized groups and have more freedom to choose their own way.
