ZURICH Tuesday, June 18, 2024 – The Cardano blockchain network, known for its focus on peer-reviewed development, is nearing a critical milestone with the upcoming June hard fork, according to a post on Platform X by Charles Hoskinson, co-founder of Input Output Global (IOG), the company behind Cardano.1
This upgrade, dubbed the “Chang fork,” will usher in the Voltaire era, marking a significant shift towards decentralized governance.
The Voltaire Era on Cardano is the fifth and final phase in the Cardano blockchain’s development roadmap.
This era focuses on governance and sustainability, introducing decentralized governance mechanisms to ensure the long-term viability of the Cardano network.
Charles Hoskinson, co-founder of Input Output Global (IOG), the company behind Cardano, highlighted the importance of the update.
He said that June could be the month when sufficient Stake Pool Operators (SPOs) would have upgraded their nodes to version 9.0, triggering the hard fork.
“It’s the most significant milestone in the history of Cardano and for the industry as a whole,” Hoskinson said on X
“Cardano will be a decentralized civilization spanning the entire world with millions of residents.”
The Voltaire era will introduce on-chain voting capabilities, allowing ADA token holders to participate in proposals that shape the future of the Cardano network. Additionally, a treasury system will be established to fund community-driven initiatives.
“We’ll have the most advanced blockchain governance system, annual budgets, a treasury, and the wisdom of our entire community to guide us,” Hoskinson added.
This development marks the culmination of nearly a decade of work for the Cardano team. The hard fork signifies a step towards a more democratic and community-driven blockchain ecosystem.
Hoskinson’s post on X read:
“It looks like June will be the month that Cardano Node will reach 9.0. This means that Cardano is Chang fork ready and waiting for 70 percent of the SPOs to install the new node. Then, a hard fork can occur pushing Cardano into the Age of Voltaire.
“It’s the most significant 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’ll have the most advanced blockchain governance system, annual budgets, a treasury, and the wisdom of our entire community to guide us.
“It’s been nearly ten years for some of us on this remarkable journey. I can’t believe that in a single decade, we built a nation. I’m proud of all of you. Cardano gives me hope for our industry and the world. Let’s spend the next decade making a big dent in the universe.”
