{"id":1906,"date":"2024-10-30T23:04:14","date_gmt":"2024-10-30T23:04:14","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=1906"},"modified":"2024-10-30T23:04:14","modified_gmt":"2024-10-30T23:04:14","slug":"next-cardano-hard-fork-will-bring-5-key-changes-reveals-emurgo","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=1906","title":{"rendered":"Next Cardano Hard Fork Will Bring 5 Key Changes, Reveals Emurgo"},"content":{"rendered":"
\n

EMURGO, a founding entity and the commercial arm of the Cardano blockchain, has disclosed five significant updates set to be introduced in the upcoming second phase of the Chang hard fork. In a blog post published on October 29, EMURGO outlines the advancements that will further Cardano\u2019s progression toward full decentralized governance and enhanced network functionality.<\/p>\n

The first part of the Chang hard fork was successfully activated on September 1. The first phase implemented critical changes, such as the burning of genesis keys, granting voting power to the Interim Constitutional Committee, and embedding the hash of the Interim Constitution on-chain.<\/p>\n

While the activation date for Chang Hard Fork Part 2 has yet to be announced, the revealed<\/a> updates are poised to empower the Cardano community further and solidify the network\u2019s decentralized governance model. Below are the five key changes expected in the upcoming hard fork:<\/p>\n

#1 Cardano\u2019s DRep Voting<\/h2>\n

The introduction of Delegate Representative (DRep)<\/a> Voting is a cornerstone of the second phase of the Chang Hard Fork. DReps will become one of the three primary governing bodies within Cardano\u2019s future governance structure, serving as a mechanism for community-driven decision-making.<\/p>\n

\u201cOnce fully integrated, DReps will have the authority to vote on proposals and governance actions submitted by the Cardano community [\u2026]. This makes their role essential for representing the voice of ADA holders on the network,\u201d EMURGO states.<\/p>\n

Registration to become a DRep is currently open. Interested parties are required to make a one-time deposit of 500 ADA to obtain an on-chain DRep certificate, officially designating them as registered members.<\/p>\n

#2 SPO Voting<\/h2>\n

Stake Pool Operator (SPO) voting is another significant upgrade in Chang part 2, granting infrastructure providers a direct role in governance. As core governing bodies on the Cardano network, SPOs will soon be able to leverage the ADA delegated to their pools as voting power.<\/p>\n

\u201cWith this update, SPOs can soon leverage the ADA delegated to their pools as voting power,\u201d EMURGO explained, adding: \u201cThis means they, like DReps, can vote to approve or reject community-proposed governance actions, helping shape Cardano\u2019s future.\u201d<\/p>\n

The influence of SPOs will depend on the amount of ADA delegated to them, making it crucial for SPOs to maintain delegation levels and communicate decisions transparently to delegators.<\/p>\n

#3 Governing Actions<\/p>\n

The implementation of governing actions is a key feature in Cardano\u2019s move toward full decentralized governance.<\/a> These actions are proposals that any member of the Cardano community can submit. With the activation of Chang hard fork part 2, ADA holders will be empowered to create and submit these proposals.<\/p>\n

\u201cTo initiate a proposal, ADA holders must make a small ADA deposit, which is fully refunded after voting ends, regardless of the result,\u201d the blog post details. Governing actions will be subject to voting by both SPOs and DReps. \u201cThrough these mechanisms, Cardano is truly placing control in the hands of ADA holders, further strengthening its decentralized governance framework,\u201d EMURGO notes.<\/p>\n

#4 Cardano Treasury Withdrawals<\/p>\n

Chang part 2 will introduce a treasury withdrawal system linked to successful governing actions, enabling the funding of community-approved initiatives directly from Cardano\u2019s treasury. \u201cThis mechanism enables ADA holders to actively shape how treasury funds promote network growth,\u201d EMURGO states. \u201cRather than merely serving as suggestions, these governing actions become actionable, community-driven projects with dedicated resources for execution.\u201d<\/p>\n

#5 Expanded Constitutional Committee<\/p>\n

The completion of Chang part 2 will allow for the expansion of the Constitutional Committee<\/a>. Currently limited to a fixed membership of seven in the interim phase, the committee will open its doors to additional members post-upgrade.<\/p>\n

\u201cThe expanded committee will welcome individual members as well as representatives from companies, DAOs (decentralized autonomous organizations), NGOs, and other groups within Cardano,\u201d EMURGO reveals. \u201cEach entity can appoint a representative to participate in the Constitutional Committee\u2019s operations, adding a potential new layer of inclusivity to Cardano\u2019s decentralized governance framework.\u201d<\/p>\n

EMURGO concludes the blog post by emphasizing the collaborative nature of these developments: \u201cThrough these enhancements, Cardano is truly placing control in the hands of ADA holders, further strengthening its decentralized governance framework.\u201d<\/p>\n

At press time, ADA traded at $0.3564.<\/p>\n

\"Cardano<\/div>\n","protected":false},"excerpt":{"rendered":"

EMURGO, a founding entity and the commercial arm of the Cardano blockchain, has disclosed five significant updates set to be introduced in the upcoming second phase of the Chang hard fork. In a blog post published on October 29, EMURGO outlines the advancements that will further Cardano\u2019s progression toward full decentralized governance and enhanced network […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-1906","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1906","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1906"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1906\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}