- Charles Hoskinson, the founder of Cardano, has addressed and debunked circulating rumors regarding the anticipated Chang hard fork.
- Hoskinson clarified that the hard fork was never scheduled for June, despite what has been claimed in various reports.
- “A fork-ready Node is ready and waiting for 70 percent of the stake pool operators to test and update,” Hoskinson stated, emphasizing the process usually requires about a month.
Charles Hoskinson addresses rumors about the Chang hard fork timing, defining the actual schedule and steps ahead for Cardano’s decentralized governance.
Chang Hard Fork: Setting the Record Straight
In a recent communication, Charles Hoskinson, the notable figure behind Cardano, tackled the mounting speculation about the Chang hard fork. Addressing the crypto community, Hoskinson emphatically stated that the projected hard fork for June was a misinterpretation. He clarified that while a fork-ready node is indeed prepared, the actual timeline involves critical steps such as receiving a 70% testing compliance from stake pool operators, which is projected to take around a month.
The Strategic Importance of the Chang Hard Fork
Diving deeper, the Chang hard fork is poised to be a monumental update for Cardano, ushering in a structure of fully decentralized and community-governed blockchain processes. By establishing an on-chain community consensus regulated by its own constitution, Cardano aims to set a benchmark in decentralized governance. The initialization includes delegate representatives, enabling ADA holders to delegate their shares. This strategic move transforms traditional voting mechanisms, with registration for delegate representatives expected to commence by the second quarter of 2024.
Transforming Cardano’s Governance System
The governance reform is bifurcated into notable stages, starting with the drafting of the constitutional document through the Cardano Constitutional Convention. This event will see government representatives convening in Argentina to prepare the initial version of the constitution. Subsequent to this drafting phase, the Cardano community will have an opportunity to vote on the proposed constitution by the end of the year. Approval of this document will inaugurate this pioneering governance system, establishing a clear pathway towards a decentralized future for Cardano.
Conclusion
In summary, Charles Hoskinson’s recent clarifications dispel rumors about the Chang hard fork’s timeline while spotlighting the methodical approach Cardano adopts to implement decentralized governance. As the fork-ready node awaits necessary testing by stake pool operators, the community prepares for significant stages in the governance overhaul. Cardano enthusiasts and stakeholders can anticipate a transformative period, marked by systemic changes and community empowerment, paving the way for a decentralized blockchain era.
