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Cardano Nears Decentralization Goal With Node Upgrade, Enters Age of Voltaire

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Cardano’s co-founder Charles Hoskinson says the network is on track for its Voltaire upgrade this June.

Cardano Nears Decentralization Goal With Node Upgrade, Enters Age of Voltaire img (1)
Cardano’s co-founder Charles Hoskinson.

Cardano’s journey to complete decentralization is nearing its final chapter. The network’s co-founder, Charles Hoskinson, recently announced on social media that Cardano is set to enter the Voltaire era this June.

This significant milestone hinges on two key factors. First, Cardano’s validating node software needs an upgrade to version 9.0 by stake pool operators (SPOs). Following this update, a hard fork, known as the Chang fork, will usher in the Voltaire era. Currently, Cardano operates in the Basho era.

According to the project’s roadmap, upon successful implementation, Cardano will transition from control by development firm IOHK to full community governance.

“It looks like June will be the month that Cardano Node will reach 9.0,” Hoskinson stated. “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.”

Hoskinson elaborated on the benefits of Voltaire, highlighting “the most advanced blockchain governance system, annual budgets, a treasury, and the wisdom of our entire community to guide us.”

The initial phase of Voltaire will reportedly involve the implementation of CIP 1694. This proposal empowers ADA token holders to directly vote on features and improvements for Cardano. A subsequent phase will introduce features like proxy participation and treasury withdrawals, enabling users to propose and fund projects within the Cardano ecosystem.

While the broader cryptocurrency market experiences a slight dip, ADA token prices remain relatively stable, reflecting a decrease of only 1.6% in the last 24 hours (according to CoinGecko data). This surpasses the average decline of 2.2% observed among major tokens tracked by the CoinDesk 20 (CD20) index.

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ABOUT THE AUTHOR

Alistair Cunningham is a British-born author with a focus on the emerging technologies shaping the future of finance. His expertise lies in cryptocurrency, artificial intelligence (AI), trading strategies, and blockchain technology. Alistair brings a deep understanding of how these areas converge to revolutionize financial systems. When he's not writing about the latest advancements, you might find him tinkering with code or exploring the potential of AI in creative applications.

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