Charles Hoskinson Announces Major Cardano Upgrade For June

Charles Hoskinson, the founder of Cardano (ADA), has unveiled plans for a significant update poised to transform the Cardano ecosystem. Scheduled for release in June, Cardano Node’s 9.0 version will facilitate the Chang hard fork, marking the advent of the Voltaire Age for Cardano.

The community remains curious as Cardano approaches this transformative period with its upcoming upgrades.

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Hoskinson has expressed optimism about Cardano’s future, highlighting its potential to become a decentralized global civilization.

The Voltaire Age promises to revolutionize Cardano’s governance through phased enhancements. Initially, it will introduce decentralized voting as detailed in Cardano Improvement Proposal (CIP) 1694. This feature is pivotal, enabling the community to influence the ecosystem by proposing and funding new projects directly.

“It’s the most significant milestone in the history of Cardano and for the industry as a whole. 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,” Hoskinson said.

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Moreover, the second phase will expand these capabilities, allowing for proxy participation and treasury withdrawals. Consequently, Cardano holders will gain greater control over community funds and decision-making processes, deepening their engagement with the platform’s evolution.

In anticipation of these changes, Cardano recently released node version 8.9.2. This update resolved a significant peer-sharing networking issue, thereby strengthening the platform’s peer-to-peer networking capabilities. Such improvements are crucial for maintaining network performance and scalability.

Hoskinson is also enthusiastic about the upcoming Ouroboros Leios upgrade, aimed at boosting transaction efficiency and scalability. These advancements are essential for maintaining Cardano’s competitive edge in the blockchain arena, ensuring the network can manage increased transaction volumes while remaining decentralized.

Despite these significant updates, ADA’s price has shown minimal fluctuation, with only a 1% increase in the past 24 hours, currently trading at $0.4407.

This stability is notable despite a generally bullish cryptocurrency market in 2024. Cardano has seen a nearly 30% decline in value year-to-date. Data from IntoTheBlock shows that only 32.39% of Cardano holders are currently making a profit at this price.

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Nevertheless, the average ADA holder maintains their investment for about a year, indicating a strong belief in Cardano’s long-term potential. This extended holding period suggests that many are waiting for a price recovery to either break even or realize profits.

The community has also warmly received the news of the Chang Fork. Cardano investor Av Sebastian shared his excitement about the platform’s prospects.

“Everyone needs to know that after the Chang hard fork, Cardano will be the most decentralized asset in the world. All ADA holders will be able to decide how the treasury of 1.5 billion ADA is spent and also the future of Cardano,” Sebastian remarked.