Charles Hoskinson Announces Cardano Node 9.0 Launch and Chang Fork - Crypto Economy

TL;DR

• Cardano Node 9.0 & Chang Fork: Charles Hoskinson announced the launch of Cardano Node 9.0 and the Chang fork, set to be completed by June, marking a major advancement into the Age of Voltaire with decentralized governance.
• Decentralized Voting & CIP 1694: The community looks forward to decentralized voting via Cardano Improvement Proposal 1694, along with other enhancements like proxy participation and treasury withdrawals.
• ADA Market Stability: Despite significant platform upgrades, ADA’s price has shown stability, with a slight 2% increase, contrasting with a 30% decline in value year-to-date and 68% of holders at a loss.
  

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Charles Hoskinson, the visionary founder of the Cardano blockchain, revealed the imminent launch of Cardano Node 9.0 and the much-anticipated Chang fork. This pivotal update, expected to be completed by June, marks a significant leap forward for the Cardano ecosystem, propelling it into the Age of Voltaire.

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 percent of the SPOs to install the new node. Then, a hard fork can occur pushing Cardano into the Age of Voltaire.

It's the most significant…

— Charles Hoskinson (@IOHK_Charles) June 9, 2024

The Age of Voltaire represents a new era of decentralized governance for Cardano, characterized by inclusivity and transparency. Hoskinson, in a recent post, emphasized the transformative nature of the Chang fork, stating:

“It’s the most significant milestone in the history of Cardano and for the industry as a whole. We’re on the brink of establishing a decentralized civilization with millions of residents, supported by the most advanced blockchain governance system, annual budgets, a treasury, and the collective wisdom of our community.”

Cardano’s Game Changing Upgrade

The development team behind Cardano has echoed Hoskinson’s sentiments, labeling the Chang fork as a game-changer that could catapult Cardano to the forefront of the blockchain revolution. This upgrade culminates nearly a decade of dedicated effort, community engagement, and rigorous testing.

On the journey, Hoskinson shared:

“In just ten years, we’ve built more than a platform; we’ve built a nation. This is a testament to the power of collective vision and innovation. The next decade promises even greater strides as we continue to shape the future of our industry and the world.”

The Chang fork is not the only upgrade on the horizon for Cardano. The community eagerly anticipates the introduction of decentralized voting, as outlined in Cardano Improvement Proposal (CIP) 1694, which will empower the community to propose and fund new projects directly.

This initiative is part of a phased enhancement plan that includes proxy participation and treasury withdrawals, granting Cardano holders more influence over the ecosystem’s direction. In preparation for these enhancements, Cardano has released node version 8.9.2, addressing critical networking issues and fortifying the platform’s infrastructure.

Moreover, the upcoming Ouroboros Leios upgrade promises to improve transaction efficiency and scalability, ensuring Cardano remains a formidable contender in the blockchain technology space.

Cardano’s ADA Market Movements

Despite these advancements, ADA’s price has remained relatively stable, with a nearly 2% increase in the past 24 hours, trading at $0.4488. This stability stands out in a generally bullish cryptocurrency market in 2024, even as Cardano has experienced a nearly 30% decline in value year-to-date.

Current data indicates that 68% of Cardano holders are at a loss, with only 32.39% making a profit at the present price point. As Cardano approaches this transformative period, the community watches with bated breath, anticipating the dawn of a new age in blockchain governance and the continued evolution of this pioneering platform.