The Cardano Foundation has introduced a comprehensive governance reform plan in preparation for the upcoming Chang hard fork. This initiative marks a significant transition towards a more decentralized governance model within the blockchain network, aiming to distribute decision-making power more fairly among stakeholders.

Known for its scientific development approach and strong focus on security and sustainability, the Cardano blockchain is gearing up for the Chang hard fork, one of its most critical updates. This update not only enhances technical aspects but also shifts towards a decentralized governance structure, a long-awaited change by the ADA community.

### Cardano Foundation's Plans for Chang Hard Fork

In an announcement on the Cardano Forum, the Cardano Foundation detailed the implementation of a new governance model involving delegate representatives (DReps), stake pool operators (SPOs), and a constitutional committee. This model aims to promote inclusivity, diversity, and balance of power, essential for the network's long-term stability and integrity.

During the initial phase between the Chang #1 and Chang #2 upgrades, governance actions will be limited to parameter changes, hard fork initiations, and informational actions. This phase is vital for ensuring network stability and security as the new governance structures take shape.

The Cardano Foundation will be part of the Interim Constitutional Committee (ICC) during this transition. The ICC will have the authority to approve protocol parameter changes independently and initiate necessary hard forks in collaboration with SPOs. It will also interpret the Cardano Constitution, oversee governance actions, ensure transparency, and support the initial governance frameworks.

In recent ICC elections, the Foundation used its significant stake of 20 million ADA to vote. Candidates were selected based on their commitment to Cardano's principles, transparency, and technical expertise. Top-ranked candidates included the Cardano Atlantic Council, Eastern Cardano Council, and individuals like Lloyd Duhon and Johnny Kelly, representing various interests within the ecosystem.

The Foundation stressed transparency throughout the electoral process, allowing stakeholders to track voting and fund allocation through platforms like pool.pm. This effort is part of a larger commitment to building trust and ensuring a fair governance transition.

At the time of reporting, ADA's market value had dropped by over 2.7% in the past 24 hours and more than 3% over the past week, with a current trading price around $0.378 and increased trading volumes suggesting heightened trader activity and interest.