Cardano, the blockchain platform founded by Ethereum co-creator Charles Hoskinson in 2017, has officially rolled out its “Chang” upgrade, a significant development that moves the platform closer to decentralized governance, as reported by Margaux Nijkerk for CoinDesk. This upgrade empowers ADA token holders by allowing them to participate directly in the platform’s governance, electing representatives and voting on key development decisions.
#Chang upgrade was successful 🚀 "The power to decide, and the liberty to act, is the only true freedom." — Voltaire #Voltaire #decentralized #governance is activated, #Cardano holders have now power to decide the fate of the protocol on-chain.I have nothing more powerful… pic.twitter.com/WfAt6GtevB
— Romain Pellerin (@rom1_pellerin) September 1, 2024
Cardano CHANG is forked. pic.twitter.com/YfYwdJg28F
— P₳DDY (@PoolShamrock) September 1, 2024
The governance changes are structured through CIP-1694, a Cardano Improvement Proposal that introduces three new community-led governance bodies: the Constitutional Committee, Delegate Representatives (dReps), and Stake Pool Operators (SPOs). These groups will now take over responsibilities previously held by Cardano’s founding entities—Cardano Foundation, Input Output Global (IOHK), and Emurgo—including the authority to initiate chain upgrades and hard forks.
CoinDesk highlights that this transition is part of a broader movement within the crypto industry towards decentralization, aligning Cardano more closely with the ethos of decentralized governance. The shift also adds practical utility to the ADA token, which could be seen as a strategic move to mitigate potential regulatory challenges.
Despite being ranked as the 28th largest blockchain by DeFiLlama, Cardano remains a focal point within the cryptocurrency community, partly due to the high-profile involvement of Charles Hoskinson. CoinDesk notes that Hoskinson, who played a key role in the development of Ethereum before founding Cardano, continues to draw attention with his outspoken views and leadership style.
The “Chang” upgrade is being implemented in two phases, according to CoinDesk. The first phase, already live, introduces an Interim Constitutional Committee tasked with temporarily overseeing governance with limited authority. This cautious approach allows the broader governance framework to take shape before the full transfer of power to the new governance entities.
CoinDesk further reports that the second phase, expected within the next 90 days, will fully empower these governance bodies, allowing the community to take a more active role in Cardano’s future.
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