The Cardano (ADA) blockchain officially rolled out its long-awaited Chang hard fork, ushering in a new era of decentralized governance for the project.
The upgrade enables decentralized voting and unlocks a 1.5 billion ADA “sovereign wealth fund” for the community, according to Cardano creator Charles Hoskinson.
With ADA trading at around $0.332 at time of writing, that wealth fund is worth almost $500 million.
Explains Hoskinson,
“This is a truly extraordinary thing to be used by and for every single one of the millions of members in the Cardano ecosystem. It’s amazing that so many people who don’t know each other, have never even met each other, are now going to work together through a blockchain and make decisions whose consequences will ripple through the history of the world.
The futures of nation-states and commerce can, in some way, be influenced by what we do as a community. In the Cardano world, the technology that’s been brought to bear is truly extraordinary.
Cardano has a reputation for being the most reliable blockchain besides Bitcoin. This is vital because if people are going to build the world’s future economic, political, and social systems, they ought to build on bedrock. They ought to build on granite, not quicksand.
We’ve had to do things the hard way as an ecosystem, accepting the criticism of our peers at times. Sometimes, we’re not the first to market, but we will always be the best in the market, and governance is no exception.
By unlocking the abilities of millions of people and their representatives to sit and think about where we should go, we can collectively solve the hard problems facing Cardano.”
The successful Chang hard fork officially kicked off the “Voltaire era,” Cardano’s final development phase focused on transferring the blockchain’s governance over to ADA holders.
Says the Cardano Community on the social media platform X,
“It’s a milestone years in the making, and it’s finally happening. We’re saying goodbye to the Genesis keys and putting the power of governance into the hands of the people – all ADA holders.”
Generated Image: Midjourney