Cardano to Hit Most Significant Milestone in its History This Month: Hoskinson

Open-source blockchain platform Cardano is about to reach its most significant milestone since its inception: becoming a fully decentralized network with an advanced governance system.

According to an X post by the network’s founder, Charles Hoskinson, Cardano Node will reach version 9.0 this month, and the blockchain will be ushered into its next development era, Voltaire.

Cardano’s Most Significant Milestone

Hoskinson explained that Cardano is ready for the Chang fork and is waiting for 70% of its stake pool operators (SPOs) to install the new node. Afterward, the network will undergo a hard fork, welcoming it into the Age of Voltaire.

The Chang fork, named in honor of Phil Chang, an early leader in Cardano governance who passed away in 2022, will apply the technical capabilities of CIP-1694’s on-chain governance onto the mainnet.

Following the launch of the Chang fork and Cardano’s transition to the Voltaire era, the blockchain will have a governance system with annual budgets, a treasury, and input from community members. Hoskinson said the development would make Cardano a decentralized civilization with millions of residents worldwide.

“It’s been nearly ten years for some of us on this remarkable journey. I can’t believe that in a single decade, we built a nation. I’m proud of all of you. Cardano gives me hope for our industry and the world. Let’s spend the next decade making a big dent in the universe,” he added.

Cardano’s Development Stages

The Age of Voltaire is the last era in Cardano’s development stages. These eras are named after prominent computer science and poetry figures: Lord Byron, Percy Bysshe Shelley, Joseph Goguen, Matsuo Bashō, and Voltaire.

The Byron era saw the launch of Cardano as a proof-of-stake protocol after network participants used a peer-review and research model of formal development. In the Shelley era, developers focused on achieving more decentralization, security, and robustness. Goguen saw smart contracts going live on Cardano, while Bashō, the network’s current era, has been about scaling and optimization.

Voltaire will introduce community-run governance, voting, and treasury management. Community members holding the network’s native token, ADA, will be allowed to initiate and vote on proposals geared toward the development of the blockchain.

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Source: https://cryptopotato.com/cardano-to-hit-most-significant-milestone-in-its-history-this-month-hoskinson/