Cardano (ADA) is poised to enter the final phase of its ambitious roadmap, the Volatire era. This upcoming upgrade will enhance the Cardano blockchain by incorporating CIP-1694, thereby evolving the Proof-of-Stake (PoS) network into a fully decentralized governance system. The Wait Is Almost Over Founder Charles Hoskinson has confirmed that the long-awaited moment is nearing, signaling the end of a lengthy wait for users. Hoskinson has announced via social media the imminent release of Cardano Node version 9.0 in June. This update will introduce the highly anticipated Chang hard fork, a significant transformation for the network. Upon the activation of the hard fork, Cardano will begin its transition to a decentralized governance structure, as outlined in the CIP-1694 proposal. The first Chang update will kickstart this process, with subsequent upgrades in Q4 2024 unlocking additional governance features. Hoskinson envisions Cardano as a decentralized global entity with millions of participants, boasting an advanced blockchain governance system guided by community input. Key Details The Chang hard fork is instrumental in implementing CIP-1694, which aims to enable ADA holders to participate in on-chain governance actions. Following the hard fork, all Genesis keys will also be eliminated, symbolizing a shift towards full community control over the Cardano protocol. Hoskinson believes that with the implementation of CIP-1694, Cardano will surpass competitors like Bitcoin (BTC) and Ethereum (ETH) in decentralization, although this remains to be seen. In any event, the transition to the Voltaire era signifies a crucial step towards genuine decentralization for Cardano, promising inclusive and transparent governance.
