The company that created Cardano, Emurgo, has released its 2024 roadmap, with a focus on the Chang hard fork that is expected to occur in the first part of the year. This momentous network event marks Cardano’s foray into decentralised decision-making in the blockchain world and represents a shift towards a community-driven governance paradigm.
A key component of the strategic plan, the Chang hard fork is intended to initiate the bootstrapping phase of the Cardano governance architecture. The hard fork adds a consensus method that gives ADA holders active control over the network’s direction, breaking with conventional governance systems.
The blockchain’s inventor, Charles Hoskinson, claims that Cardano has taught everyone the proper way to stake and will soon demonstrate the proper way to carry out decentralised governance. As stated in the CIP-1694 proposal, Cardano is committed to attaining complete community governance by 2024, which will include voting events, seminars, and conventions. This shift is symbolic of the Voltaire age.
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More to come for Cardano in 2024
In addition to ambitions for increasing tokenization and creating a favourable environment for decentralised applications in the DeFi and NFT domains, Cardano’s 2024 roadmap also contains other goals. Notably, Cardano’s innovative methodology makes it possible to issue tokens without the need for smart contracts, making it easier for companies and creators to enter the Web3 market.
Furthering its commitment to collaborative innovation, Cardano also hopes to improve compatibility with other blockchain ecosystems and support the creation of dApps by third parties.
