Charles Hoskinson, the mastermind behind the Cardano blockchain platform, recently announced a major milestone for the Cardano ecosystem. The much-anticipated Chang hard fork is approaching, with the Cardano Node set to reach version 9.0 this month. This upgrade marks the beginning of the Voltaire era, the final phase of Cardano’s roadmap focusing on decentralized governance and on-chain voting mechanisms.
The Chang hard fork is significant as it empowers the Cardano community to have a say in the blockchain’s future development through a comprehensive voting and treasury system. ADA holders can use their tokens to vote on proposals and influence key decisions, ensuring active community participation in governance. This shift to decentralized governance transfers control from the development team to the broader Cardano community, allowing ADA holders to directly vote on proposals on the blockchain.
Some of the major features and benefits of the Chang hard fork include the introduction of on-chain voting, a treasury system for funding development and community projects, and enhanced security measures to bolster the network’s resilience and safety. For the Chang hard fork to proceed, 70% of Cardano’s stake pool operators (SPOs) need to update to the new node version, paving the way for the network to enter the Age of Voltaire, named in honor of the late Phil Chang, a key figure in Cardano governance.
Hoskinson views the Chang hard fork as a monumental milestone in Cardano’s development, envisioning it as a step towards creating a decentralized civilization spanning the globe. He predicts that Cardano will have the most advanced blockchain governance system with annual budgets, a treasury, and enriched community insights. Despite challenges, Hoskinson expressed his pride in the community’s achievements and remains optimistic about Cardano’s future, emphasizing the platform’s potential to make a significant impact in the world.
As of now, Cardano’s ADA token is trading at around $0.4333, down by 1.7% in the past 24 hours. The upcoming Chang hard fork and the transition into the Voltaire era are poised to shape the future of the Cardano ecosystem, enabling greater community involvement in governance and decision-making processes. With Hoskinson at the helm, Cardano continues to push the boundaries of blockchain technology and strive towards a more decentralized and inclusive future.
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