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Cardano Prepares for Chang Fork and Complete Decentralization

The Cardano network is poised to enter the final phase of its multiyear journey towards becoming a fully decentralized blockchain ecosystem. Co-founder Charles Hoskinson announced on social media platform X that the transition is expected to occur later this month.

Preparations for the Chang Fork

The initial step in this process requires the system’s stake pool operators (SPOs) to upgrade their validating node software to the latest version. Following this, the blockchain will undergo a hard fork, transitioning to a backward-incompatible version and ushering in a new era called Voltaire. Currently, Cardano is in its Basho era.

According to the project’s roadmap, once the transition is complete, the seven-year-old blockchain will no longer be actively managed by IOHK, the Cardano development firm. Instead, it will be entirely run by community members.

Transition to Voltaire Era

In his post, Hoskinson stated, “It looks like June will be the month that Cardano Node will reach 9.0. This means that Cardano is Chang fork ready and waiting for 70% 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.”

Governance and Future Developments

The first phase of Voltaire will implement CIP 1694, a proposal enabling ADA token holders to vote on topics and features that benefit Cardano. Subsequent steps will introduce new features, such as proxy participation and treasury withdrawals, allowing users to propose and fund projects within the Cardano ecosystem.

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Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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