Cardano successfully implemented the Chang #1 Hard Fork on September 1, 2024, marking a significant milestone for the blockchain. This upgrade is divided into two phases:
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Phase One: Introduces an Interim Constitutional Committee (ICC) to oversee governance temporarily. The ICC's power is limited, with Stake Pool Operators also needing to approve key protocol changes.
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Phase Two: Expected to start after 18 epochs (about 90 days), this phase will unlock full on-chain governance capabilities, including treasury withdrawals and active participation by Delegated Representatives (DReps).
The hard fork transitions Cardano into the Conway era, enhancing community involvement through DReps, who represent the voting power of ada delegators. Early registration as a DRep requires a refundable deposit of 500 ada.
Founder of Cardano speech: https://x.com/iohk_charles/status/1830292210706948531?s=46&t=oSGqeP-2Naadz19txnLohg
Announcement: https://forum.cardano.org/t/digest-september-2-2024-cardanos-chang-hard-fork-initiated-on-chain-governance-begins-step-into-the-conway-era-become-a-cardano-delegated-representative/135581 Show Less
