cardano

Cardano Chang upgrade officially activated ⚡

1. Chang Upgrade: Cardano has began the "Chang" upgrade, shifting towards decentralized governance.

2. CIP-1694: This ADA Improvement Proposal outlines the new governance structure, establishing 3 bodies: the Constitutional Committee, Delegate Representatives (dReps) & Stake Pool Operators (SPOs).

3. Governance Shift: Control over chain upgrades and "hard forks" is transitioning from the founding entities (Cardano Foundation, Input Output Global, and Emurgo) to these new governance bodies.

4. Voltaire Era: The upgrade marks the beginning of an era aiming for full decentralization.

5. Implementation Phases: 1st phase introduces an Interim Constitutional Committee with limited powers. 2nd phase will fully empower the governance bodies.

6. Industry Position: Cardano is positioning itself among leading blockchains with on-chain governance.

7. Strategic Evolution: The changes also aim to add utility to ADA & potentially stave off securities regulation concerns.