‘Genesis Keys Are Dead,’ Charles Hoskinson Issues Crucial Chang Update

The Cardano community patiently awaits the Chang hard fork upgrade to usher in the Voltaire Era. Input-Output Global developers have worked on this upgrade for months to return governance to the community. As Charles Hoskinson recently hinted, the team has now burnt the “Genesis Keys,” which arguably gives IOG the control it has over the protocol.

Last Chang hard fork hurdle cleared

After its last postponement, the Chang hard fork upgrade is scheduled for Sept. 1. While there are many boxes to tick ahead of this update, the lockup of the Genesis Keys was one of the most important.

Without much detail, the Cardano founder confirmed the Genesis Keys are no longer under IOG’s control. In his characteristic manner, he told the community, “The Age of Voltaire is soon upon us.”

There is currently no update regarding support from centralized exchanges regarding the Chang upgrade. This remains the big issue that made the Cardano protocol postpone the upgrade launch in the first place. While the community has urged the team to move ahead and let the exchanges catch up later, it remains clear what approach the teams will follow.

With this and previous updates, the community is eager for the proposed upgrade.

What community governance will look like

Cardano innovators believe the protocol needs to be relaxed during the Voltaire Era so that the community can fully control its developments. However, there will be elected representatives who form a council with more defined responsibilities.

With this community governance model, there might be more demand for ADA, as this will give the pass to participate in decision-making. Overall, there might be a positive impact on ADA price moving forward.

For now, the digital currency is changing hands for $0.3567, down by 0.38% in 24 hours.

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