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Cardano’s Chang Hard Fork Completed: Charles Hoskinson’s June Update

Cardano’s Chang Hard Fork Completed: Charles Hoskinson’s June Update

With a significant announcement, Cardano founder and prominent personality in the cryptocurrency field Charles Hoskinson has stoked community interest. According to a recent social media statement by the visionary founder, the long-awaited Chang Hard Fork update is anticipated to be completed in June. Notably, Cardano is entering the “Age of Voltaire,” and this improvement is a critical turning point for the company.

Cardano’s founder teases the launch date of the Chang Hard Fork

Hoskinson announced that Cardano Node will shortly reach version 9.0 in his most recent post on X. With his statement indicating that the update is anticipated in June, this milestone shows that Cardano is prepared for the Chang Hard Fork.

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Charles Hoskinson stated that the hard fork will start as soon as 70% of Stake Pool Operators (SPOs) update to the new node. This upgrade is significant because it attempts to usher in the “Age of Voltaire” for Cardano by presenting a ground-breaking blockchain governance architecture.

Notably, Hoskinson underlined that this update is the biggest advancement in ADA’s past. He characterized Cardano as a future decentralized civilization of millions of people worldwide.

With this change, Cardano wants to establish the most advanced blockchain governance structure possible. It will include community-driven decision-making procedures, a treasury, and annual budgets. Hoskinson’s declaration, “In almost ten years, we’ve established a country,” demonstrates his pride and ambition for ADA’s development and ability to transform the blockchain sector.

Governance and Decentralization

In his remarks, Hoskinson addressed worries about ADA’s centralization within the ecosystem while applauding the progress made toward decentralization. For example, one user pointed out that a blockchain with formalized budgeting and governance may look like a centralized organization.

In response, Hoskinson emphasized that the budgeting, treasury, and governance processes are overseen by tens of thousands of participants from more than 100 countries, highlighting ADA’s decentralized structure. Decentralization is essential for ADA to realize its goal of creating a worldwide, self-sufficient blockchain community.

However, his remarks align with the project’s objective of distributing authority and decision-making across its user base by incorporating a sizable and varied group in governance. Furthermore, this method is very different from centralized systems, which frequently restrict control to a small number of entities. Hoskinson’s promises highlight Cardano’s commitment to developing and expanding decentralized finance (DeFi).

At the time of this writing, Cardano’s price reached an intraday low of $0.436; however, it later rebounded 0.35% to $0.4415. Its trading volume dropped 7.6% to $360.69 million in the past day. CoinGlass data revealed that the open interest for ADA futures dropped 1.08% to $253.36 million.

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