Contact

info@th3fus3.com



© 2024 TheFuse. All rights reserved.

Charles Hoskinson Reveals Big Changes with Chang

By Vukan Ljubojevic | TH3FUS3 Senior Writer

July 10, 2024 07:15 AM

Reading time: 1 minute, 54 seconds

TL;DR Charles Hoskinson, Cardano's co-founder, has announced the launch of the Chang Hard Fork. This crucial update will bring a new era of governance to the Cardano blockchain. Scheduled for July 16th, it promises to decentralize decision-making.

Charles Hoskinson and the Chang Hard Fork

Cardano Co-Founder Charles Hoskinson has officially announced the launch of the Chang Hard Fork. He said the fork will bring a new era of decentralized governance to the Cardano blockchain network.

The Chang Hard Fork is part of the Cardano Roadmap, which includes five periods: Byron, Shelley, Goguen, Basho, and Voltaire. The current era, Voltaire, focuses on governance and will kickstart following the launch of the Chang Hard Fork.

According to the Cardano team, this update will transform Cardano's governance through a constitutional order comprising on-chain voting and democratic rights.

Launch Date and Community Involvement

After a long wait, Chang's launch date is now precise following Hoskinson's announcement. In his report, he clarified that Chang will be released on July 16th.

On his live broadcast on his official X page, he explained, "Once we hit the threshold of 70% SPOs, we are now on the age of fork." This milestone marks a significant step in Cardano's ongoing evolution.

Further, Hoskinson elaborated on how the Cardano community would have a say in governance. The community will vote for the budget and other activities.

Based on the current interim constitution, the Cardano leadership team will work toward a constitutional convention in Argentina at the end of the year, an initiative to ensure all community members have a voice in decision-making.

Leadership Changes

Under the new government, Charles Hoskinson will not work as part of the on-chain government but will remain part of the development team.

This role shift signifies a move towards complete community-centered governance, aligning with Cardano's decentralization vision. The use of community-run governments hopes to achieve complete decentralization for the Cardano blockchain.

Therefore, the approach will incorporate on-chain voting, ensuring a transparent and verifiable decision-making process. This is expected to enhance the overall trust and engagement within the Cardano ecosystem.

Significance in the Blockchain Ecosystem

The Chang Hard Fork is very significant within the blockchain ecosystem. Blockchain's core aspect is the decentralization of governance, which the new Cardano model aims to achieve.

Therefore, the success of this model will set a precedent in the blockchain industry to avoid the issues arising from centralized governance that blockchain seeks to prevent.

"The Chang Hard Fork's main goal is to introduce community-centered governance," said Hoskinson.

Share this

Similar news
technology

UK Biotech Secures $350k for Space Research

By Anthony Burr | TH3FUS3 Managing Editor

47 minutes ago
ai

OpenAI Unveils Two Very Important Announcements

OpenAI addresses SEC whistleblower concerns and introduces its GPT-4o Mini

57 minutes ago
technology

Toyota to Use Ethereum Blockchain for Future Driving

By Vukan Ljubojevic | TH3FUS3 Senior Writer

4 hours ago
All results loaded