As the blockchain continues to evolve, so does Cardano which is poised to take a giant leap forward with the Chang hard fork. This leap is a transformative event for Cardano, as it aims to revolutionize scalability, security, and governance. By empowering the community, Chang’s hard fork sets the stage for Cardano to emerge as a fully decentralized and self-sustaining blockchain. This article gives a detailed description of Cardano’s Chang hard fork.
What is Chang Hard Fork?
The Chang hard fork marks the major milestone in Cardano’s road map, which began with the Byron era in 2017 and will end with the upcoming Voltaire era. Voltaire is the final piece of Cardano’s puzzle necessary for the network to become a self-sustaining system. The hard fork is expected to happen by the end of July 2024, and unlike previous hard forks, this fork brings a leap in blockchain technology as it addresses several key issues. This includes enabling community-driven governance, shifting control from the IOG firm to the Cardano community, and more. These changes aim to improve transaction speed and security and make ADA a fully functional decentralized blockchain.
Cardano Governance Model Post Upgrade
The new governance model aims to ensure that its users make decisions for the network’s future while ensuring sustainability and resilience. Cardano hopes to achieve this model through the following stages:
- Delegate Representatives (DReps): DReps are chosen by ADA holders to represent their interest in the various proposals in a network. They are elected by holders who don’t have time or the necessary technical expertise to understand each proposal and vote on them. Instead, they delegate their voting power to their chosen representative whom they trust to vote on their behalf. This is an important part of the Voltaire phase as it encourages community voice to be heard and decentralized decision-making.
- Cardano Constitution Convention: This convention which is scheduled to take place in Buenos Aires will gather all the representatives who were voted in 2024 from all over the globe. During this convention, they will come together to draft the initial version of Cardano’s convention, laying the foundational principles for its governance.
- Community Vote: The last step is the community vote, where all ADA holders can vote to decide where to adopt the constitution, and if ratified the constitution will become the pillars of Cardano’s decentralized governance.
Key Features of Chang Hard Fork
Advanced Scalability Features
The Chang upgrade introduces advanced scalability features that enhance the network’s capacity. Before the upgrade, ADA could only handle 250 transactions per second but after the upgrade, the network can potentially process 1000 TPS. The increase in the number of processed transactions can help reduce network congestion and lower transaction costs, which makes it easier to support dApps and a robust and active community.
Improved Security Protocols
In blockchain, security is of major importance and Chang hard fork aims to improve the network security protocols to protect ADA against threats. The new protocols include advanced cryptographic techniques and other methods to safeguard the network and community-driven governance processes from various threats.
Enhanced Transaction Speeds
A major aspect of the Chang hard fork is the increase in transaction speeds which is essential for the fast operation of decentralized applications and other services. This improvement is crucial as it reduces the latency ensuring a better user experience and the ability to meet higher transaction demands making the network more competitive.
Resilience Against Attacks
Chang Hard Fork is designed to increase the Cardano blockchain’s resilience to attacks, ensuring the ecosystem is secure and reliable. This resilience is achieved through various defense mechanisms and continuous monitoring of the network’s health. Furthermore, the transition to the Voltaire phase could be a potential target for hackers to sabotage decentralized governance. By providing a reliable and secure environment, the Chang hard fork ensures the functioning of governance mechanisms.
Community Driven Governance
The main thing about Chang’s hard fork is the introduction of community-driven governance to the Cardano network. This represents a major shift from traditional centralized governance to on-chain community consensus where ADA holders can participate in the decision-making process.
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Voltaire is the final phase of the Cardano roadmap which embodies the network’s long-term vision of sustainability and resilience. With the previous phases laying the groundwork, Voltaire brings decentralized governance and community empowerment to Cardano’s ecosystem.
- Decentralized Governance: The Voltaire phase introduces decentralized governance, allowing ADA holders to have a direct say in the network’s future. This marks a transition from a centralized development model to a more democratic and decentralized ecosystem.
- Community Empowerment: Voltaire empowers the community by allowing them to participate in the voting process, funding proposals, and other governance initiatives. This allows community members to play a major role in determining the platform’s future development. Furthermore, this method also fosters a sense of ownership and belonging among community members.
- Evolutionary Leap: The Voltaire phase signifies Cardano’s transition from a research-driven project to a fully decentralized blockchain. With decentralized governance and incentivized participation, Cardano aims to deliver real-world value and sustainability to its users.
Conclusion
The Chang hard fork represents a pivotal moment in Cardano’s evolution, marking the final step toward realizing a fully decentralized and self-sustaining blockchain ecosystem. By introducing advanced scalability features, improved security protocols, enhanced transaction speeds, and resilience against attacks, the Chang upgrade significantly boosts Cardano’s technical capabilities. Most importantly, the shift to community-driven governance, where ADA holders actively participate in decision-making, exemplifies Cardano’s commitment to decentralization. The Voltaire phase, as the culmination of this journey, ensures that Cardano is not only a technological powerhouse but also a model of sustainable and resilient blockchain governance.
