u.today
Prominent Cardano enthusiasts are abuzz with anticipation over the impending Chang hard fork, scheduled for the second quarter of 2024. Positioned as a game-changing moment in Cardano's journey toward decentralized governance, this milestone event marks the inception of minimum-viable community-run governance in the blockchain ecosystem.
Central to the Chang hard fork is its role in initiating the bootstrapping process for Cardano's governance throughout 2024, comprising three main stages.
The first stage involves the introduction of delegate representatives (DReps), who will serve as elected representatives entrusted with the task of advocating for the interests of the Cardano community. This novel approach to representation empowers users to delegate their ADA holdings, thereby fostering greater engagement and participation.
I hear the Chang hard fork is going to be an absolute game changer for #Cardano. 🔥 https://t.co/r35P28slMb
— Chris O (@TheOCcryptobro) April 26, 2024
Subsequently, the Cardano Constitution Convention will convene in Buenos Aires, bringing together governance representatives from workshops held worldwide. Together, they will collaborate to draft the inaugural version of the Cardano Constitution, laying the foundation for community-led governance principles.
Decentralized constitution
The culmination of this process will be marked by a community-wide vote on the ratification of the Cardano Constitution. Should it be ratified, the constitution will serve as the cornerstone of decentralized governance mechanisms, guiding the future direction of the Cardano blockchain.
In addition to these governance milestones, the Chang hard fork will introduce two significant upgrades: Chang Upgrade Number One and Chang Upgrade Number Two. These upgrades, outlined in CIP-1694, will facilitate the deployment of governance features, including decentralized voting mechanisms and treasury withdrawals.