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Cardano Ecosystem

U.Today

06/10/2024

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Cardano on Verge of "Most Significant" Milestone in Its History

Cardano founder Charles Hoskinson has touted the network's most significant milestone to date. Will this translate into gains for ADA?

Cardano on Verge of "Most Significant" Milestone in Its History

Cardano founder Charles Hoskinson has touted the network's most significant milestone to date. Will this translate into gains for ADA?

Cardano, one of the leading proof-of-stake blockchain platforms, is approaching its biggest milestone to date, according to a recent social media post shared by founder Charles Hoskinson.  

Cardano has now reached the fifth stage of its ambitious roadmap called "Voltaire." This stage specifically focuses on turning the network into a self-sustaining ecosystem.  

Hoskinson believes that June will be the month that Cardano Node, the network's top-level component, reaches 9.0.

The Cardano network is already Chang fork-ready, and 70% of stake pool operators (SPOs) are now supposed to install the new node.  

The hard fork will consist of two major upgrades. The first one will prepare the groundwork for initiating decentralized voting as well as governance actions. The second stage will finalize the introduction of various governance features that include treasury withdrawals.  

With the Voltaire phase, Cardano is supposed to enhance the level of decentralization and transparency within the ecosystem.  

Without even a modicum of humility, Hoskinson claims that the Chang hard fork will mark the most significant milestone for "the entire industry." "Cardano will be a decentralized civilization spanning the entire world with millions of residents. We'll have the most advanced blockchain governance system, annual budgets, a treasury, and the wisdom of our entire community to guide us," he wrote on the X social media network.  

Earlier this month, the controversial Cardano founder also railed against cryptocurrency influencers who believe that the network lacks fundamentals. He is convinced that there is a strong disconnect between the opinions of Cardano skeptics and reality.  

It remains to be seen whether 2024 will end up being a strong year for Cardano. So far, ADA's performance has been rather underwhelming in 2024, with the token dropping out of the top 10 biggest coins by market capitalization.

article imageAlex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry

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