Stake Pool Operators (SPOs) on the Cardano network began migrating to Node 9.1.0, the network's new software, today. Chang's hard fork aims to transfer control of the $14 billion blockchain to ADA owners. For the hard fork to take effect, at least 70% of all SPOs will need to migrate to the new node. As of the date of writing this article, according to data obtained from ADA staking platform PoolTool, Cardano's node density is at 27% for the update.

Hard forks make radical changes to a blockchain's software, making the network incompatible with previous versions. Major blockchains such as Bitcoin and Ethereum have undergone similar hard forks in the past. In particular, Ethereum's 2022 hard fork switched the network's consensus mechanism from Proof of Work to Proof of Stake.

Named after Phil Chang, one of the first representatives of Cardano who died in 2022, the Chang hard fork will bring a decentralized management similar to DeFi DAOs to the Cardano blockchain. This change means that Cardano will no longer be under the control of the three organizations responsible for ADA governance: Cardano Foundation, Emurgo and Input Output Global. Emurgo serves as Cardano's commercial arm, while blockchain development firm Input Output Global is owned by Charles Hoskinson. With the transition to DAO-like governance, ADA holders will have the right to vote on changes to the blockchain.

Hoskinson stated that the transition to decentralized management is a step showing that Cardano has matured over the years. In addition to voting on blockchain changes, ADA holders will also have rights over the project's budget and treasury. ADA holders who do not want to actively participate in management may delegate their voting powers to other participants.

The Chang hard fork represents Cardano's fifth network change and will usher in the Voltaire era of decentralizing control of the network, according to the project's roadmap. The previous eras, Goguen and Basho, introduced network features such as scalability and smart contract functionality.

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