The Countdown Begins: Cardano's Chang Hard Fork is Just Around the Corner!
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The wait is almost over for Cardano enthusiasts! With over 70% of nodes signaling readiness for the new version, the highly anticipated Chang hard fork is poised to revolutionize the network. But what exactly does this upgrade entail, and how will it impact the future of Cardano?
The Chang hard fork is a significant milestone in Cardano's journey towards enhanced decentralization and coordination among nodes. By running nodes on version 9.1.0, the network will become more robust and resilient, paving the way for a brighter future. But that's not all - this upgrade is just the beginning of a new era in Cardano's governance.
In the second phase of the fork, a new governance model will be introduced, enabling ADA holders to participate more actively in decision-making. This means that the community will have a greater say in shaping the future of the network, moving beyond simple staking to proposing and voting on changes. The new governance model, proposed by the Intersect organization, will feature a seven-member interim constitutional committee with community representatives.
As Cardano's creator, Charles Hoskinson, envisions a decentralized network that eventually drafts its own constitution, the stage is set for a truly community-driven network. With a total supply capped at 45 billion ADA and a 1 billion ADA treasury allocated based on community votes, the future looks bright for Cardano. So, what are your thoughts on the Chang hard fork? Share your predictions and expectations in the comments below!
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