Cardano (ADA) has successfully undergone its long-awaited Chang hard fork, marking a significant evolution in its network and introducing on-chain governance. This feature puts the power directly in the hands of ADA holders to influence the blockchain's future.
One of the most notable changes brought about by this upgrade is the introduction of Delegated Representatives, or DReps. These individuals act as key intermediaries, facilitating communication between ADA holders and the network's decision-making mechanisms.
card
Thus, withdrawing staking rewards is now a bit more complicated. You have to delegate your voting power to a DRep. This is something ADA holders will need to do after the hard fork to stay engaged.
Hoskinson explains
In a recent discussion, Cardano's founder, Charles Hoskinson, addressed user concerns and clarified the path forward. He said that users have three choices: casting a vote of no confidence, abstaining from participation or delegating their influence to a DRep.
Wallets like Lace are already programmed to accommodate those who prefer to keep their governance involvement at bay by selecting the "abstain" option automatically, allowing staking to continue unhindered, notes the blockchain developer.
To clarify, a user to withdraw staking rewards from the network has to choose one of three options: a vote of no confidence, abstain, or delegate to a drep. Wallets like lace will in the UX automatically choose abstain if a user selects delegation only thereby simplifying the…
— Charles Hoskinson (@IOHK_Charles) September 5, 2024
Chang hard fork
Cardano is rolling out upgrades with this latest fork, making its foundation stronger as the ecosystem shifts toward decentralized governance. It is crucial for ADA holders to understand these changes.
card
They can do that by learning about the role of DReps and the broader implications of the hard fork. That way, they can directly influence the future of the Cardano blockchain. Participation is not just a passive act. It is a dynamic choice that shapes the ecosystem's direction.
