Cardano Set to Become Fully Decentralized With Advanced Governance System

According to CryptoPotato, Cardano, an open-source blockchain platform, is on the brink of achieving its most significant milestone since its inception. The network is set to become fully decentralized with an advanced governance system. Charles Hoskinson, the network’s founder, announced that Cardano Node will reach version 9.0 this month, marking the beginning of the blockchain's next development era, Voltaire. Hoskinson explained that Cardano is prepared for the Chang fork and is awaiting 70% of its stake pool operators (SPOs) to install the new node. Following this, the network will undergo a hard fork, transitioning into the Age of Voltaire. The Chang fork, named after Phil Chang, an early leader in Cardano governance who passed away in 2022, will implement the technical capabilities of CIP-1694’s on-chain governance onto the mainnet. Post the launch of the Chang fork and Cardano’s transition to the Voltaire era, the blockchain will feature a governance system with annual budgets, a treasury, and community member input. Hoskinson stated that this development would transform Cardano into a decentralized civilization with millions of residents worldwide. The Age of Voltaire is the final stage in Cardano’s development eras, named after notable figures in computer science and poetry: Lord Byron, Percy Bysshe Shelley, Joseph Goguen, Matsuo Bashō, and Voltaire. The Byron era marked the launch of Cardano as a proof-of-stake protocol, with network participants using a peer-review and research model of formal development. The Shelley era focused on achieving greater decentralization, security, and robustness. The Goguen era saw the introduction of smart contracts on Cardano, while the Bashō era, the network’s current stage, is centered on scaling and optimization. The Voltaire era will introduce community-run governance, voting, and treasury management. Community members holding the network’s native token, ADA, will be able to initiate and vote on proposals aimed at the blockchain's development.