Cardano Ushers in ‘Voltaire’ Era with Governance Upgrades Read CoinChapter.com on Google News
NAIROBI (CoinChapter.com) — Cardano Founder Charles Hoskinson Cardano has announced that its Cardano Node 9.0 update will occur in June, thus marking the beginning of the Chang hard fork and the Voltaire Age. Notably, the Voltaire phase will focus on enhancing Cardano’s governance and decentralization by introducing new voting and treasury controls with a new standard called CIP-1694.
Is Cardano Entering a New Era of Governance?
The Voltaire Age marks a big change for ADA, moving towards more decentralization. CIP-1694 will introduce voting, allowing the community to suggest and fund new projects directly. Charles Hoskinson described this as a key step, seeing ADA as a decentralized global community. The second phase of the Voltaire Age will expand these features, allowing for proxy voting and treasury withdrawals. These features will give Cardano holders more control over funds and decisions.
A snippet of Hoskinson’s post on X
Recent updates include the release of node version 8.9.2, which fixed a peer-sharing issue. Hoskinson is also excited about the upcoming Ouroboros Leios upgrade, aimed at improving transaction speed and scalability. These changes are important for keeping ADA competitive in the blockchain space.
Community Embraces Chang Fork Upgrade
Despite these changes, ADA’s price has shown little movement. Currently trading at $0.4497, Cardano’s value has dropped nearly 30% this year. Data from IntoTheBlock shows that only 32.39% of Cardano holders are making a profit. Still, the average ADA holder keeps their investment for about a year, showing a strong belief in Cardano’s long-term potential.
ADA/USD 1-month price performance. Source: CoinMarketCap
The community has welcomed the news of the Chang Fork. ADA investor Av Sebastian shared his excitement, noting that after the Chang hard fork, Cardano will become the most decentralized asset in the world. All ADA holders will be able to decide how the treasury of 1.5 billion ADA is spent.
Charles Hoskinson remains hopeful about Cardano’s future, stressing the importance of these upgrades for the platform and the industry. These governance changes aim to make ADA a leading blockchain network, building a decentralized global community.
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