Blockchain platform Cardano (ADA) is on the verge of a significant transformation. Founder Charles Hoskinson announced that the platform is ready for the upcoming Chang fork, which is “the most important turning point in history” and will usher in the “Age of Voltaire.”
In his post on his social media account on June 9, Hoskinson said, “It seems that June will be the month when Cardano Node will reach 9.0. This means that Cardano is ready for the Chang fork and 70 percent of SPOs are ready for the new node.” “Then a hard fork could occur, pushing Cardano into the Age of Voltaire.” said.
The Chang upgrade is considered a pivotal development for Cardano as it provides the essential tools and infrastructure to support the “Age of Voltaire.” According to Hoskinson, this era is poised to provide the final elements needed for the network to become self-sustainable.
The Voltaire era empowers network participants to propose improvements for Cardano, subject to a vote by stakers who benefit from the existing staking and delegation process. It is also establishing a treasury system to finance future network development. A portion of all transaction fees will be pooled to fund development efforts agreed upon during the voting process.
According to Hoskinson's statement, once these voting and treasury systems are operational, Cardano will be fully decentralized and will no longer be under the management of IOHK.
Commenting on the update, Hoskinson said, “This is the most important milestone in the history of Cardano and for the industry as a whole. Cardano will be a decentralized civilization spanning the entire world with millions of residents. We will have the most advanced blockchain management system, annual budgets, a treasury, and the support of our entire community to guide us.” We will have your wisdom.” said.
*This is not investment advice.
