Cardano Takes A Big Step Towards Decentralized Governance With Upcoming Upgrade

The highly anticipated upgrade that will transition Cardano into an era of decentralized governance is drawing near. Charles Hoskinson, the founder of Cardano, recently announced that the Cardano Node 9.0 release is likely happening in June. This paves the way for the Chang hard fork, kickstarting the Voltaire Age for the blockchain.

Furthermore, In a post on the social media platform X, Hoskinson stated, “It looks like June will be the month Cardano Node reaches version 9.0. Cardano is prepared for the Chang fork and needs 70 percent of stake pool operators to install the new node. Then, the hard fork can occur, pushing Cardano into the Age of Voltaire.”

The Chang hard fork represents a major milestone in Cardano’s roadmap. It marks the transition to the Voltaire era, introducing a governance system that empowers the community to participate in decision-making processes actively. Hoskinson expressed excitement about this shift, saying, “Cardano will become a decentralized civilization spanning the world with millions of residents. We’ll have the most advanced blockchain governance system, annual budgets, a treasury, and the wisdom of our entire community to guide us.”

Cardano’s Voltaire Age: Decentralized Governance Unveiled

The Voltaire Age will be rolled out in two parts. The first part will implement core governance features outlined in CIP 1694, enabling decentralized voting on the network. The second part will build upon these features, introducing proxy participation and treasury withdrawals. This will enable the Cardano community to vote on proposals, and also propose and fund ecosystem projects.

Ahead of the Chang hard fork, Cardano has already released node version 8.9.2, addressing a critical issue in the peer-sharing networking feature. This update strengthens the platform’s peer-to-peer networking capabilities, ensuring a smooth transition to the new era.

Furthermore, the upcoming major upgrade will positively impact Cardano’s native token, ADA. At press time, ADA is trading at $0.4439 and ranks among the top ten cryptocurrencies by market capitalization, according to Coinmarketcap.

Source: CoinMarketCap

Moreover, the crypto community watches as Cardano moves closer to the Voltaire Age. Introducing decentralized governance could set a new standard for community-driven blockchain ecosystems, solidifying Cardano’s position as a pioneering force in the industry.

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Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.

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