Charles Hoskinson describes the Chang fork as “the most monumental milestone in the history of the Cardano ecosystem,” which will introduce advanced governance systems and give Cardano (ADA) holders the ability to vote on proposals for the future of the community.
Hoskinson highlighted several key features of the upcoming Chang fork. The upgrade, he said, will allow for more advanced governance mechanisms, including proxy participation and treasury withdrawals, which will allow for funding of promising projects in the Cardano ecosystem, “promoting its innovation and community engagement.”
The first part of the upgrade will focus on releasing an interim version of the network constitution and the creation of a temporary Constitutional Committee (CC). Delegated representatives are expected to be introduced during the second phase of the hard fork implementation. According to the Cardano community, over 70% of Cardano staking pool operators (SPOs) have already deployed a Node Version 9.1.0 node, overcoming the biggest hurdle to the launch of the Chang fork.
The day before, Hoskinson said that the cryptocurrency wallet Lace Paper Wallet created by his team has become the most secure tool for storing digital assets in the history of the crypto industry and offered $1 million to anyone who can prove otherwise.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
