Cardano is making preparations for its next key update.
This June is expected to see the release of Cardano Node version 9.0, a preview in anticipation of the next Cardano hard fork, named Chang.
Cardano founder Charles Hoskinson, a well-known figure in the cryptocurrency world, took to his social networks to share details about the network’s upcoming developments.
“It looks like June will be the month when Cardano Node will reach version 9.0,” he commented in a post on X on Sunday.
The introduction of the next Chang upgrade, which will take the form of a hard fork, will signal Cardano’s entry into the Voltaire Era. This era aims to “provide the final pieces necessary for the Cardano network to become a self-sustaining system,” the project roadmap reports.
Hoskinson announced to his followers that once 70% of the Stake Pool Operators (SPOs) upgrade to the new node, hard forking will begin.
This means that Cardano is ready for Chang’s hard fork and is waiting for 70% of SPOs to install the new node, which will push Cardano into the Voltaire Era.
Chang will usher in a new era for Cardano: The Voltaire Era
The Voltaire Era guarantees the introduction of a novel voting and treasury system that will allow network participants to use their participation and voting rights to influence the prospective development of Cardano.
It will introduce decentralized voting, detailed in Cardano Improvement Proposal (CIP) 1694. This functionality is crucial and allows the community to exert its influence on the ecosystem by directly proposing and funding new projects.
Hoskinson described the development as “the most significant milestone in Cardano’s history”. He also highlighted the potential of the Blockchain network to become a “decentralized civilization that will spread around the world with millions of residents,” comparing Cardano to a nation.
“We will have the most advanced Blockchain governance system, annual budgets, a treasury, and the wisdom of our entire community to guide us,” he stated, as he reviewed the nearly ten-year journey of building the network and thanked all the developers and participants who have enabled the breakthrough.
“Let’s dedicate the next decade to making a big dent in the universe,” the founder added.
Meanwhile, the community also received the news of Chang’s hard fork with joy. It is worth noting that a hard fork is a type of upgrade in a blockchain protocol that overrides previous versions and forces all node operators in the network to upgrade to the latest software synchronously.
ADA soars nearly 3%.
Amid announcements about the upcoming Cardano upgrade and expectations of a platform optimization, the price of ADA, the native cryptocurrency, experienced a nearly 3% jump in the morning hours (U.S. Eastern time) to trade at USD $0.449 before retreating slightly, CoinMarketCap data indicates.
ADA has seen a significant price performance in recent months, down more than 40% since the beginning of March, when the token temporarily settled above USD $0.77.
However, recent prices are still notably far from ADA’s all-time high of USD $2.90 reached in September 2021. On a year-on-year basis, Cardano’s cryptocurrency has gained 78%. Meanwhile, 65% of ADA holders are at a loss, and 32% are in profit, according to information from IntoTheBlock.
