ADA's Biggest Leap Yet: Charles Hoskinson Announces Historic Milestone for Cardano!

Sean Millare
Jun 11, 2024

Cardano (ADA) is about to undergo a major change, according to its founder Charles Hoskinson. He stated that the platform is fully prepared for the upcoming Chang fork, which he believes to be a significant turning point in history and will mark the beginning of the "Age of Voltaire."

On June 9, Hoskinson announced on his social media platform that Cardano Node is expected to reach 9.0 in June, indicating Cardano's readiness for the Chang fork. He also mentioned that 70 percent of SPOs are prepared for the new node, and this could potentially lead to a hard fork and usher Cardano into the Age of Voltaire.

The implementation of Chang is seen as a crucial advancement for Cardano, as it offers the necessary resources and framework to facilitate the "Age of Voltaire." As per Hoskinson, this period is expected to bring about the remaining components required for the network to achieve self-sustainability.

The Voltaire era enables individuals in the network to suggest enhancements for Cardano, which will then be voted on by stakers who are involved in the current staking and delegation system. It is also implementing a treasury mechanism to fund future network progress. A percentage of the transaction fees will be collected to support development initiatives that have been approved through the voting process.

According to Hoskinson's declaration, when the voting and treasury systems are functioning, Cardano will achieve complete decentralization and will no longer be under the control of IOHK.

In regards to the update, Hoskinson stated that this is a significant milestone for both Cardano and the industry. The goal for Cardano is to become a decentralized global society with millions of members. They plan to implement an advanced blockchain management system, create yearly budgets, establish a treasury, and receive guidance from their community. Hoskinson expressed gratitude for the community's wisdom and support.

Sean Millare

Sean, a skilled writer, gamer, trader, and investor, with a passion for all things web3. With a practical touch, he sheds light on the evolving crypto scene, helping readers grasp blockchain intricacies and make savvy decisions in decentralized finance.

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