Charles Hoskinson, the creator of the Cardano blockchain platform, has announced a significant development within the Cardano ecosystem set for June. On June 9, Hoskinson revealed on X (formerly Twitter) that the highly anticipated Chang fork is approaching, with the Cardano Node expected to reach version 9.0 within the month. This advancement marks a crucial step as Cardano readies itself for the upcoming hard fork.
Read CRYPTONEWSLAND onReadiness for the Hard Fork
For the hard fork to occur, 70% of Cardano’s stake pool operators (SPOs) must install the new node. This threshold will enable the Cardano blockchain to transition smoothly into the Age of Voltaire, the final phase in Cardano’s development roadmap. This roadmap consists of various eras, each named after influential figures in poetry and computer science, including Lord Byron, Percy Bysshe Shelley, Joseph Goguen, Matsuo Bashō, and Voltaire.
The initial three stages of Cardano’s development introduced foundational blockchain capabilities, decentralization, and smart contracts. The Basho era, which follows, is focused on scaling the blockchain. The upcoming Voltaire era will incorporate governance, voting, and treasury management functionalities, marking the final stage in Cardano’s evolution.
Introduction of Community Governance
The Chang fork represents the first hard fork of the Voltaire era, emphasizing community-run governance. This update will facilitate on-chain community consensus and empower ADA token holders to participate in voting on proposals. The fork is named in honor of Phil Chang, a prominent figure in Cardano governance who passed away in 2022.
Decentralized Governance and Future Prospects
Hoskinson highlighted the significance of the Chang fork, describing it as a pivotal milestone in Cardano’s history. The fork aims to establish a decentralized governance model, enabling a global decentralized community with millions of participants. This milestone is expected to enhance the Cardano ecosystem by promoting more inclusive and democratic governance mechanisms within the blockchain network.
This development highlights Cardano’s commitment to evolving its blockchain infrastructure, ensuring good governance, and fostering active community participation. The successful integration of the Chang fork will signify a new era for Cardano, propelling it towards a decentralized future.
By introducing the Chang fork, Cardano is set to achieve significant advancements in blockchain governance, enhancing a more participatory and democratic blockchain ecosystem.
Join #PawFury's groundbreaking presale! Earn rewards, play fun games, and support real-world impact. Don't miss…
Explore why BlockDAG overshadows #Sealana despite its exchange listings, focusing on #BlockDAG's superior technology, investor…
Explore how #MoonBag's groundbreaking presale is redefining #cryptoinvestments with unprecedented returns and revolutionary scalability solutions,…
MoonBag Price surge is in full form with prediction of hitting $1 by 2025. Reap…
Amidst #Bitcoin's market decline and regulatory moves, insights into $800M liquidation and potential entry points…
Unveil the #bestaltcoins set for success in the 2025 bull run, featuring #BlockDAG's cutting-edge technology…