One of the biggest updates to the Cardano network will happen in the next three days. It will introduce new features and complete the transition of the blockchain to a community-driven network.

The Chang hard fork was originally scheduled to launch on Tuesday, August 27, according to an August 20 announcement; however, Cardano founder Charles Hoskinson announced on August 23 that the launch had been postponed to September 1, 2024.

According to Hoskinson, cryptocurrency exchanges such as Binance and others need more time "to get their affairs in order, so the rocket will wait on the launch pad for another era until the weather improves."

What is a Chang hard fork?

The development of the Cardano network can be divided into five eras: Byron (founding), Shelley (decentralization), Gauguin (smart contracts), Basho (scaling) and Voltaire (management)

Cardano entered the Voltaire era around May 30, 2024. This era will allow network members and stakeholders to submit and vote on Cardano Improvement proposals (CIP) through an already existing staking and delegation process. Chang's hard fork will make this possible.

The Chang hard fork aims to implement a distributed management structure on the chain. It will include a minimally viable community management structure as described in CIP-1694, transferring network support to the Cardano community.

The hard fork consists of two parts: the first will be deployed on September 1, and the second in the fourth quarter of 2024.

Two-part Cardano Update

The first part will mark the entry of Cardano into the phase of technical self-tuning. This will include the creation of an Interim Cardano Constitution and an Interim Constitutional Committee (ICC). The interim constitution will guide Cardano's transition during the hard fork. The ICC will serve as an interim governing body, upholding the principles of the Constitution and exercising the right to vote and veto the first actions of governance on the network.

The community will draft a basic constitution during the Cardano Constitutional Convention and create a real Constitutional Committee later this year.

The second part of the Chang hard fork will allow the network to exit the phase of technical self-tuning by implementing management bodies such as delegate representatives (DReps) and betting pool operators (SPOs), as well as community-managed withdrawals from the Treasury.

These governing bodies, including Cardano native token holders and the Constitutional Committee, will be able to vote and veto governance proposals, request ADA delegation, generate certificates and withdraw funds from the treasury.