The Cardano ecosystem has launched the Chang Upgrade, a significant update that will transform key aspects of the network.
The upgrade, which has been delayed, will bring governance rights for token holders and enable decentralized governance within the network. This will allow token holders to elect governance representatives and vote for future developments.
Cardano’s upgrade is an important milestone as it brings token holders onto its own Decentralized Autonomous Organization (DAO) platform. The upgrade also initiates a new era in the network, the Conway ledger era, following the Voltaire era.
Key features include decentralized governance mechanisms, on-chain voting, and PlutusV3 ledger language. The upgrade is expected to occur in two stages: the live phase and the second on-chain decision-making phase.
The first phase of the upgrade also introduces an Interim Constitutional Committee to oversee platform governance. The Cardano (ADA) token has experienced a 2.80% daily price decline, trading at $0.3333.
