- Cardano’s founder has lauded the network’s recent upgrade as a great tech advancement.
- The upgrade ushered in Cardano’s decentralized governance system.
- The network will transition to the new model over the next 90 days.
Cardano founder Charles Hoskinson has heralded the blockchain’s recent upgrade as “one of the greatest technical achievements in human history.”
The blockchain network executed the much-awaited “Chang” hard fork at block 10,764,778 on September 1 at about 21:44 UTC, ushering in the “Voltaire Era” and a decentralized on-chain governance system powered by its native token ADA. The upgrade allows ADA holders to contribute to Cardano’s future by voting on development proposals and electing governance representatives.
Hoskinson Praises Cardano’s Governance System
In an X post on September 2, Hoskinson described Cardano’s achievement as monumental, noting that the blockchain ecosystem had evolved into a decentralized nation with its own constitution without central coordination or the need to shut it down.
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“This dwarfs Bitcoin. It's unique, and books will be written about what has happened. Cardano is now a governance virus that is living, self- replicating, and self-sustaining. It has intelligence and a will to survive and grow,” Hoskinson stated.
Cardano is set to fully transition to a decentralized governance model over the next 90 days, after which the second phase of Chang hard fork will activate. An interim committee will oversee the process, culminating in full power handover to the governance bodies, including staking pool operators, a constitutional committee, and delegate representatives.
In addition to decentralized governance mechanics and on-chain voting, the Chang upgrade introduced the PlutusV3 ledger language on Cardano. The Cardano Foundation said this feature incorporates advanced Plutus primitives and cryptographic capabilities to enhance the network’s smart contract functionalities while ensuring robust security.
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