Key Takeaways:
- Cardano’s Chang hard fork, implemented on September 1, 2024, introduces the “Conway ledger era,” enhancing governance and smart contract functionalities.
- The upgrade enables all ADA tokenholders to submit and vote on governance proposals, aligning with the “Voltaire” phase through Cardano Improvement Proposal-1694.
- Despite the significant upgrade, ADA’s price fell by 2.4% on the day, continuing its downward trend since 2021.
Cardano has successfully implemented the Chang hard fork, marking a significant upgrade to its governance and smart contract capabilities.
The upgrade, launched on September 1, 2024, introduces the “Conway ledger era” and enhances Cardano’s decentralized governance model.
Today's Chang hard fork marks a major milestone for the Cardano blockchain, ecosystem, and community––fulfilling the promise of a truly self-governing, decentralized network.
— Cardano Foundation (@Cardano_CF) September 2, 2024
Welcome to a new era of decentralized governance: Voltaire. ⚖️ https://t.co/sE0iyRKLg9 pic.twitter.com/dA0JkgYOio
Now, any Cardano (ADA) tokenholder can submit and vote on governance proposals, a key part of the ongoing “Voltaire” phase.
This is achieved through Cardano Improvement Proposal-1694, which allows for direct voting or delegation and establishes a constitutional committee and new roles for stake pool operators.
One small step for Cardano; One giant leap for the industry https://t.co/ENXV41XdhZ
— Charles Hoskinson (@IOHK_Charles) September 1, 2024
The upgrade also improves Plutus scripts for governance and introduces advanced voting mechanisms.
Despite these advancements, ADA’s price dropped 2.4% on the day, continuing its decline from its all-time high in 2021.
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