Cardano, an open-source blockchain platform, is on the verge of reaching a significant milestone as it transitions into a fully decentralized network with an advanced governance system. Charles Hoskinson, the founder of Cardano, announced that the blockchain will reach version 9.0 with the upcoming Chang fork, marking the beginning of the Voltaire era. This milestone will bring on-chain governance capabilities to the mainnet and establish a governance system with annual budgets, a treasury, and community input.
The Chang fork, named in honor of Phil Chang, a significant figure in Cardano’s governance who passed away in 2022, will require 70% of stake pool operators to install the new node before undergoing a hard fork. Once completed, Cardano will enter the Age of Voltaire, where community members will have a say in the blockchain’s development through proposals and voting. This new era marks the final stage of Cardano’s development roadmap, following the Byron, Shelley, Goguen, and Bashō eras.
Hoskinson expressed his pride in the progress made over the past decade, stating that Cardano has evolved into a decentralized civilization with a global community. The transition to the Voltaire era represents a step towards making a significant impact in the blockchain industry and the world as a whole. By allowing ADA holders to participate in governance and decision-making processes, Cardano aims to create a more inclusive and democratic platform for innovation and development.
Each of Cardano’s development eras has focused on different aspects of the platform’s growth and evolution. The Byron era laid the foundation for Cardano as a proof-of-stake protocol, while the Shelley era emphasized decentralization, security, and robustness. The Goguen era introduced smart contracts to the network, and the current Bashō era has focused on scaling and optimization. The upcoming Voltaire era will enable community-driven governance and decision-making processes.
As Cardano continues to evolve and mature, it aims to create a platform that empowers its community to contribute to its development and growth actively. By implementing a governance system that includes annual budgets, a treasury, and community voting, Cardano is paving the way for a more democratic and inclusive blockchain ecosystem. The transition to the Voltaire era represents a significant milestone in Cardano’s journey towards becoming a decentralized civilization with millions of residents worldwide.
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