Cardano hits an exciting milestone with its latest governance upgrade supporting Chang 2, allowing ADA holders to participate in protocol decision-making directly.
Cardano has officially released Node 10.1.1, marking a significant step towards decentralized governance for the platform.
This update supports the Chang 2 hard fork, which is designed to finalize Cardano’s on-chain governance as outlined in CIP-1694.
This upgrade transitions Cardano from its initial “bootstrap” governance phase that began with the Chang 1 hard fork on September 1.
The Chang upgrade is crucial as it integrates the final components of Cardano’s governance system, reflecting principles from the Voltaire era.
To facilitate a smooth transition, the upgrade was divided into two parts.
With the introduction of Chang 2, Cardano’s governance framework will allow ADA holders to engage directly in decision-making processes.
Following this upgrade, ADA holders can either delegate their voting power to Delegated Representatives (DReps) or take on the DRep role themselves.
In addition to governance enhancements, Node 10.1.1 brings several key improvements, including new Plutus primitives that enhance smart contract capabilities, as detailed in CIP-0122, CIP-0123, and CIP-0127.
Stake Pool Operators (SPOs) will benefit from better support for delegating voting options, along with various enhancements across the ledger, API, CLI, and networking.
However, this release introduces breaking changes, meaning SPOs and developers should review the release notes on Intersect GitHub to ensure compatibility as older features are phased out.
For the Chang 2 upgrade to take effect, it requires a vote from the Interim Constitutional Committee (ICC) and approval from 51% of the stake held by SPOs.
Once these conditions are met, a one-epoch ratification period will follow, leading to the full implementation of the hard fork.
SPOs, decentralized applications (DApps), and exchanges must prepare for this upgrade, as compatibility with Node 10.1.1 is vital for seamless operations post-upgrade.
Intersect, the organization managing Cardano’s governance infrastructure, will provide a readiness page to monitor progress throughout the upgrade phases.
Additionally, the hard fork working group will hold Q&A sessions to address community questions and offer guidance on the technical changes.
Once Chang 2 is implemented, Cardano’s governance will facilitate decentralized voting, empowering ADA holders to influence the blockchain’s future through GovTool and other governance initiatives.
The community will have opportunities to participate in working groups and open sessions to develop and refine governance proposals related to budgeting and protocol enhancements.
Cardano (ADA) is currently trading at $0.32 at the time of this writing.
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