YEREVAN (CoinChapter.com) — Charles Hoskinson, the creator of Cardano, announced that the Voltaire era is near with the upcoming Chang hard fork in June. This update will bring community-run governance and on-chain consensus, marking the final phase of Cardano’s roadmap.
Cardano Prepares for Chang Hard Fork
On June 9, Hoskinson shared that Cardano Node is expected to reach version 9.0 this month. The ADA blockchain is awaiting 70% of stake pool operators (SPOs) to install the new node. Once this threshold is met, the hard fork will push Cardano into the Voltaire era.
The Voltaire era is the final stage in ADA’s development, following the Byron, Shelley, Goguen, and Basho eras. Additionally, these previous phases established the blockchain’s foundation, including decentralization, smart contracts, and scaling. Now, the Voltaire era will focus on governance, voting, and treasury management.
Chang Hard Fork Gives ADA Holders Voting Power
The Chang hard fork is named in honor of Phil Chang, an early leader in ADA governance who passed away in 2022. Furthermore, this upgrade allows ADA holders to vote on proposals, introducing community-run governance and on-chain community consensus.
Hoskinson described this milestone as the “most significant in the history of Cardano.” Moreover, the new governance system will include annual budgets, a treasury, and insights from the community.
Cardano Faces Downward Trend with Recent Price Corrections
Recently, Cardano started a downward move similar to Bitcoin and Ethereum. Consequently, after failing to clear the $0.450 resistance, ADA dipped below the $0.400 support and tested the $0.360 zone. A low was formed at $0.360, and the price is now correcting losses.
There was a minor recovery wave above the $0.3750 zone, eventually climbing above the 50% Fibonacci retracement level of the downward move from the $0.4204 swing high to the $0.3600 low.
Notably, in early April, ADA fell out of the top 10 cryptocurrencies by market capitalization, overtaken by Toncoin (TON).
