Cardano recently underwent the Chang hard fork, introducing new on-chain governance mechanisms. Users can make decisions through delegated representatives (DReps). Charles Hoskinson clarified that ADA holders have three options for receiving staking rewards: vote of no confidence, abstain, or delegate to a DRep. Delegation is not mandatory for rewards.
The update enables participants to present and vote on Cardano Improvement Proposals. Hoskinson noted that wallets like lace will automatically choose abstain if a user selects delegation only.
CARDANO GOVERNANCE FOLLOWING CHANG HARD FORK
According to its roadmap , the development of the Cardano blockchain is grouped into five different eras. The project entered the Voltaire era around May this year. This period of its development is focused on governance and designed to enable network participants and stakeholders to present and vote on Cardano Improvement Proposals (CIPs) through a staking and delegation process that has already been put in place. This was made possible by the Chang hard fork, which took place just a few days ago.
CHARLES HOSKINSON CHIPS IN
In a response on X, Hoskinson clarified that users are now presented with three different options, debunking rumors that delegation is mandatory for receiving staking rewards. He said that users wanting to withdraw their rewards have three paths ahead of them:
* A vote of no confidence
* Abstain
* Delegate to a DRep
It’s worth noting, though, that all three require action, and doing nothing doesn’t count as abstaining. “To clarify, a user to withdraw staking rewards from the network, has to choose one of three options: a vote of no confidence, abstain, or delegate to a DRep. Wallets like lace will in the UX automatically choose abstain if a user selects delegation only thereby simplifying the experience.” – Hoskinson noted.
More about United States Steel Corporation
United States Steel Corporation produces and sells tubular and flat rolled steel products primarily in North America and Europe. The company is headquartered in Pittsburgh, Pennsylvania.
Industry: MANUFACTURING, STEEL WORKS, BLAST FURNACES & ROLLING MILLS (COKE OVENS)
Contact Number: 8008647000
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