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Cardano’s Chang Hard Fork to Take Place in Early 2024: Here’s What ADA Investors Need to Know

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Cardano’s Chang Hard Fork to Take Place in Early 2024: Here’s What ADA Investors Need to Know

Emurgo, the foundational entity behind Cardano, has outlined its plans for 2024, with a focal point on the upcoming Chang hard fork scheduled for the first half of the year. This significant network event signifies a move toward a community-driven governance model, marking Cardano’s venture into decentralized decision-making within the blockchain space.

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Chang hard fork is a pivotal aspect of the strategic roadmap, designed to kickstart the Cardano governance model’s bootstrapping period. In a departure from traditional governance structures, the hard fork introduces a consensus mechanism that empowers ADA holders to actively shape the network’s trajectory.

According to Charles Hoskinson, the creator of the blockchain, Cardano has shown everyone how to stake correctly, and now it will show how to do decentralized governance correctly. The transition to the Voltaire era, outlined in the CIP-1694 proposal, signals Cardano’s commitment to achieving full community governance in 2024, featuring workshops, conventions and voting events.

More to come for Cardano in 2024

Beyond governance, Cardano’s 2024 agenda includes plans for increased tokenization, providing a fertile ground for decentralized applications in the DeFi and NFT spheres and more. Notably, Cardano’s unique approach allows token issuance without the necessity of smart contracts, simplifying entry for brands and creators into the Web3 space.

Additionally, Cardano aims to bolster third-party dApp development and enhance interoperability with other blockchain ecosystems, reinforcing its commitment to collaborative innovation.

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