Cardano Chang Fork succeeds: What this means for ADA
The Cardano Chang Fork is a success: Cardano is entering the final development stage, Voltaire. Over the next three months, the decision-making power over ADA will be placed entirely in the hands of the user community. The masterminds want to use this innovative approach to create a new standard in the crypto industry.
Cardano Chang Fork succeeds: What this means for ADA
On Sunday, the Cardano blockchain successfully completed the Chang Fork, which means the smart contract platform is entering a new and final phase of development.
The final stage of development is called Voltaire. It deals with a new type of administrative structure. In this way, Cardano wants to achieve complete decentralization. Without individual leading figures, the network could not only become fairer and more neutral, but also more resistant to external attacks.
Cardano founder Charles Hoskinson announced the success of the hard fork on YouTube. There he described the Chang upgrade as a “ small step for Cardano” but also a “ giant leap for crypto” .
Hoskinson repeatedly criticizes the current crypto market for its half-hearted decentralization. In his opinion, it is a big mistake not to decentralize the administration of individual cryptocurrencies sufficiently. Cardano wants to create a new standard.
Cardano developer Emurgo now describes his project as “the first decentralized blockchain protocol controlled by its user community.”
This community is divided into three groups: the so-called constitutional committee, delegated representatives and the stake pool operators. Both the committee and the representatives are appointed through elections by the ADA holders.
The three groups play a major role in the blockchain’s decision-making processes. They can request changes and are responsible for compliance with the constitution. Any investor can get involved in the committee or as a delegate.
Input Output gives up Cardano
Until now, three organizations were primarily responsible for the development of Cardano: main developer Input Output, secondary developer Emurgo and the Cardano Foundation. The future of ADA is no longer solely under the decision-making power of these organizations.
In order for changes to the blockchain to be made in the future, they must first be confirmed by the user community.
In order to guarantee the success of the planned processes, the blockchain will be taken over gradually according to a plan. An interim committee will be put in place for the first year after the Chang Fork. In three months, users will finally have full, unlimited control over the blockchain.
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The Chang hard fork was named after Phil Inje Chang, a Korean employee of Input Output who played a leading role in the development of Voltaire. Chang passed away in spring 2022.
