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06/10/2024

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Cardano's Chang Hard Fork Completion In June, Says Founder Charles Hoskinson

Highlights Cardano's Chang Hard Fork is set to be completed in June, says founder Charles Hoskinson. The hard fork aims to transition Cardano into the "Age of Voltaire" with advanced governance. Charles...

Cardano's Chang Hard Fork Completion In June, Says Founder Charles Hoskinson

Cardano Chang Hard Fork Upgrade

Highlights

  • Cardano's Chang Hard Fork is set to be completed in June, says founder Charles Hoskinson.
  • The hard fork aims to transition Cardano into the "Age of Voltaire" with advanced governance.
  • Charles Hoskinson also addressed concerns over the centralized concerns of the project.

Cardano founder Charles Hoskinson, a key figure in the crypto space, has fueled excitement within the community with a key announcement. According to a recent social media post from the visionary founder, the much-awaited Chang Hard Fork upgrade is expected to be finalized this June. Notably, this upgrade marks a pivotal moment for Cardano, setting the stage for its entry into the “Age of Voltaire.”

Cardano Founder Hints At Chang Hard Fork Launch Date

In his latest post on X, Hoskinson shared that Cardano Node will soon reach version 9.0. This milestone signifies that Cardano is ready for the Chang Hard Fork, with his remark suggesting that the update is expected to come in June.

Meanwhile, Charles Hoskinson said that once 70% of Stake Pool Operators (SPOs) update to the new node, the hard fork will be initiated. This update is crucial as it aims to transition Cardano into the “Age of Voltaire”, introducing a revolutionary governance model for the blockchain.

Notably, Hoskinson emphasized that this upgrade represents the most significant development in Cardano’s history. He described the future Cardano as a decentralized civilization, supported by millions globally.

With this transformation, Cardano aims to implement the most sophisticated blockchain governance system. It will feature annual budgets, a treasury, and community-driven decision-making processes. Hoskinson’s statement “In nearly a decade, we’ve built a nation,” highlights his vision and pride in Cardano’s journey and its potential to reshape the blockchain industry.

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Decentralization and Governance

While Hoskinson celebrated the advancements toward decentralization, his comments also addressed concerns about Cardano’s centralization within the ecosystem. For context, a user suggested that a blockchain with structured governance and budgets might resemble a centralized entity.

However, countering that comment, Hoskinson clarified that the governance, treasury, and budgeting processes are managed by tens of thousands of participants from over 100 countries, underscoring the truly decentralized nature of Cardano. This decentralization is pivotal for Cardano’s vision of a global, self-sustaining blockchain community.

Meanwhile, his comment reflects the project’s aim to distribute power and decision-making across its user base by involving a vast and diverse group in governance. In addition, this approach contrasts sharply with centralized systems, where control is often limited to a few entities. Hoskinson’s reassurances emphasize Cardano’s focus on decentralized finance (DeFi) as it evolves and grows.

As of writing, Cardano price rose 0.35% to $0.4415 after hitting an intraday low of $0.436. Over the last 24 hours, its trading volume fell 7.6% to $360.69 million, while CoinGlass data showed that the ADA futures open interest fell 1.08% to $253.36 million.

Also Read:

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Solana Set For v1.18.15 Mainnet Upgrade, SOL Price Rally to $250 Ahead?

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Rupam, a seasoned professional with 3 years in the financial market, has honed his skills as a meticulous research analyst and insightful journalist. He finds joy in exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor at Coingape, Rupam's expertise goes beyond conventional boundaries. His contributions encompass breaking stories, delving into AI-related developments, providing real-time crypto market updates, and presenting insightful economic news. Rupam's journey is marked by a passion for unraveling the intricacies of finance and delivering impactful stories that resonate with a diverse audience.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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