Charles Hoskinson, the creator of Cardano, has announced a major event in the Cardano ecosystem set for June. The upcoming Chang fork will introduce the final development phase, the Age of Voltaire, marking a significant milestone for Cardano.
Quick Take
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Cardano is set to launch the Chang fork, marking the beginning of the Age of Voltaire.
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The release of Cardano Node 9.0 is imminent, pending installation by 70% of stake pool operators.
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This era will introduce decentralized governance, voting, and treasury management.
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Hoskinson emphasizes this as the most significant milestone in Cardano’s history, aiming for a decentralized global community.
The Chang Fork: A New Era for Cardano
On June 9, Charles Hoskinson shared exciting news about Cardano’s upcoming Chang fork via social media platform X. This fork is pivotal as it transitions Cardano into the final stage of its development roadmap, known as the Age of Voltaire. Before this can occur, Cardano Node must reach version 9.0, which is anticipated to happen this month, and 70% of stake pool operators (SPOs) must install the new node.
The Chang fork is named in honor of Phil Chang, an early leader in Cardano governance who passed away in 2022. This update is set to bring transformative changes, particularly in governance, allowing for community-driven decisions.
Technical Details of the Chang Upgrade
The Chang fork involves two major upgrades:
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Foundation for Decentralized Governance: This will lay the groundwork for initiating decentralized voting and governance actions.
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Implementation of Governance Features: This includes the final introduction of various governance features such as treasury withdrawals and community consensus mechanisms.
The successful implementation of Node 9.0 is crucial for these upgrades. Once 70% of SPOs install the new node, the hard fork will proceed, officially marking the start of the Voltaire era.
The Voltaire Era: Decentralized Governance and Treasury Management
Cardano’s roadmap is divided into distinct phases named after historical figures. The earlier phases (Byron, Shelley, Goguen, and Basho) focused on building a basic blockchain, decentralization, smart contracts, and scalability, respectively. Voltaire, the final phase, introduces governance and treasury management, essential for a self-sustaining ecosystem.
The Chang fork will enable on-chain community consensus, allowing ADA holders to vote on various proposals. This empowerment of the community is a crucial step towards full decentralization.
Impact on Cardano’s Ecosystem
The announcement of the Chang fork has generated significant excitement within the Cardano community. Hoskinson describes this event as the most significant milestone in Cardano’s history, envisioning a decentralized civilization with millions of participants worldwide. He expressed his pride in the community's journey over the past decade and emphasized the potential for Cardano to make a substantial impact on the industry and the world.
Cardano’s Market Performance
ADA/USDT price chart | Source: KuCoin
This announcement comes at a time when Cardano's native cryptocurrency, ADA, has experienced a significant decline. Since the beginning of 2024, ADA has dropped more than 26%, from around $0.60 to $0.44. Despite this, Cardano remains a leading proof-of-stake blockchain platform, frequently discussed on social media for its potential and upcoming developments.
Cardano Community Expresses Optimism
The Cardano community is optimistic about the upcoming changes. Hoskinson’s announcement has sparked considerable social media engagement, with many expressing bullish sentiments. However, this buzz has yet to translate into significant gains for ADA, which remains in 11th place with a market capitalization of $15.6 billion.
Conclusion
Cardano’s upcoming Chang fork and the transition into the Age of Voltaire represent a significant milestone in the blockchain’s development. This upgrade will introduce advanced governance features, empowering the community and promoting a self-sustaining ecosystem. Despite recent market challenges, Cardano’s focus on real-world applications and community-driven development positions it for long-term success.
As the Cardano community eagerly anticipates these changes, the successful implementation of Node 9.0 and the Chang fork will set new standards in blockchain governance and decentralization. The next few months promise to be pivotal for Cardano, with potential impacts extending across the broader crypto community.
