With the anticipated launch of Cardano Node 9.0 in June, Cardano is poised for a significant shift. This update sets the scene for the much-anticipated Chang hard fork, which marks the beginning of the Voltaire Age, a transformative era focused on self-governance for Cardano’s blockchain. In a recent comment on X, the creator of Cardano, Charles Hoskinson, talked about this upcoming release and underlined that it would allow for the preparation for the following stages of evolution.
Hoskinson further stated that the next month of June will be a crucial one for Cardano with the launch of version 9.0 of the Node software. This new update means that Cardano is ready for the Chang fork and all that it comes with, provided the SPOs, or Stake Pool Operators embrace it. Once this is achieved, a hard fork can be employed to transition to the era known as the “Age of Voltaire.” But it is not just a technical advancement that brings this age; it is a shift towards a more democratic form of consensus for Cardano.
Another significant development in the Cardano project is the expected Chang hard fork. We anticipate this update to transform the blockchain platform into a decentralized global community with enhanced governance systems. The management of these aspects, such as an annual budget and a treasury system, relies on cooperation and the collective knowledge of Cardano members. Enthusiastically, Hoskinson shared his dream of establishing a large-scale decentralized society with millions of people, embracing diverse and complex governance systems.
In the Age of Voltaire, Cardano will adopt a new governance model that primarily transfers power to the community. This implies that the community’s people will be directly involved in decision-making within the community. The first step towards achieving this goal is to integrate governance features from CIP 1694 that form the foundation of decentralized voting systems. Upon the release of further updates, these features will facilitate proxy voting and Treasury fund withdrawal, enabling community members to propose and fund projects within the Cardano network.
Version 8.9.2 of Cardano Node was recently released in anticipation of future developments and manifestations. The most recent update, which pertains to peer-sharing networking, is of the utmost significance. This update has enhanced the network in a way that enables it to improve direct message exchange between individuals, which is imperative for implementing Cardano’s unique governance model.
The upcoming Chang hard fork and the transition of Cardano to the Voltaire Age might have a considerable impact on the digital coin native to the platform. Of course, ADA, which costs $0.441 per coin, is at the forefront of the top ten cryptocurrencies in terms of market capitalization, based on data from CoinGecko. These updates include some new features and improvements in general network capabilities; thus, ADA prices can also increase.
As the future of Cardano approaches, there is a significant focus on the development of a blockchain environment that is founded on decentralization, democratic management principles, and advanced technologies. This shift marks a significant movement for blockchain networks to decentralize at scale so that the community can participate in decision-making. Consequently, the Age of Voltaire, which is currently referred to as such, is a significant development in the pursuit of Hoskinson’s vision of a fully decentralized global civilization through the implementation of blockchain technology.