Cardano to Enter Final Phase of Decentralization with Voltaire Upgrade This Month, Co-Founder Hoskinson Announces**
The Cardano network is poised to enter the final phase of its multiyear journey toward becoming a fully decentralized blockchain ecosystem later this month, according to co-founder Charles Hoskinson. He made the announcement in an X post on Monday.
The first step in this transition involves upgrading the validating node software operated by the system’s stake pool operators (SPOs) to the latest version. Following this, the blockchain will undergo a backward-incompatible upgrade, known as a hard fork, ushering in a new era called Voltaire. Currently, Cardano is in its Basho era.
According to the project’s roadmap, once this upgrade is complete, the seven-year-old blockchain will no longer be actively managed by Cardano’s development firm, IOHK. Instead, it will be entirely run by community members.
“It looks like June will be the month that Cardano Node will reach 9.0,“ Hoskinson posted. “This means that Cardano is Chang fork ready and waiting for 70 percent of the SPOs to install the new node. Then, a hard fork can occur, pushing Cardano into the Age of Voltaire.”
He added, “We’ll have the most advanced blockchain governance system, annual budgets, a treasury, and the wisdom of our entire community to guide us.”
The first part of Voltaire will see the implementation of CIP 1694, a proposal allowing holders of the native ADA token to vote on topics and features that benefit Cardano. The second step will introduce additional features such as proxy participation and treasury withdrawals, enabling users to propose and fund projects within the Cardano ecosystem.
Despite the anticipation surrounding the upgrade, ADA tokens have seen a slight decline, down 1.6% in the past 24 hours according to CoinGecko data. This is a better performance compared to the 2.2% losses in major tokens tracked by the CoinDesk 20 (CD20) index.
Source: coindesk.com
