As an analyst with a background in blockchain technology and experience following the development of various projects, I’m excited about Cardano’s upcoming milestone. The forthcoming Chang fork and transition into the Voltaire era mark a significant step forward for this open-source platform.
As a proud investor in the open-source blockchain platform, Cardano, I’m thrilled to announce that we’re on the brink of achieving a major accomplishment. In the coming days, Cardano is set to transition into a fully decentralized network, marking a significant milestone since its inception. Our advanced governance system will ensure that every stakeholder plays a vital role in the decision-making process, making this achievement even more noteworthy.
As a Cardano analyst, I’ve come across an exciting update from Charles Hoskinson, the network’s founder, on Reddit (X post). He announced that we can expect the arrival of Cardano Node version 9.0 this month. This significant milestone will mark the beginning of a new development era for the Cardano blockchain, which he named Voltaire.
Cardano’s Most Significant Milestone
Hoskinson shared that Cardano is now prepared for the upcoming Chang fork and is merely awaiting approximately 70% of its stake pool operators (SPOs) to integrate the new node. Following this, the network will undergo a significant hard fork, marking the beginning of the Age of Voltaire.
In memory of Phil Chang, a pioneering figure in Cardano’s governance who tragically passed away in 2022, the Chang fork will integrate the on-chain governance functionalities of CIP-1694 into the mainnet.
As a Cardano analyst, I’d describe it this way: Post-Chang fork and Voltaire era initiation for Cardano, the blockchain will introduce an advanced governance structure featuring annual budgets, a treasury, and community involvement. According to Hoskinson, this development will transform Cardano into a globally populated decentralized society.
“We’ve been on an incredible journey together for close to a decade now. I find it hard to believe that within just ten years, we’ve managed to create a nation. I’m so proud of all of you. Cardano fills me with optimism for our sector and the world at large. Let’s use the next ten years to make a significant impact in the universe,” he expressed.
Cardano’s Development Stages
In the evolution of Cardano, Voltaire’s Age marks the final stage. We label these stages after notable computing and poetic influencers: Lord Byron, Percy Bysshe Shelley, Joseph Goguen, Matsuo Basho, and Voltaire himself.
During the Byron phase, Cardano was introduced as a proof-of-stake blockchain following a meticulous development process involving peer review and extensive research by network members. In Shelley’s time, the team prioritized increasing decentralization, security, and resilience. With the arrival of Goguen, smart contracts became operational on Cardano. Now in Bashō, the primary focus is on enhancing scalability and optimizing network performance.
Voltaire, the platform, will facilitate self-governing mechanisms in the community, enabling them to propose, vote on, and manage initiatives related to the blockchain’s advancement. Holders of the native token, ADA, will have the privilege to participate in these democratic processes.
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2024-06-11 17:49