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Charles Hoskinson: Cardano Is Ready for a Hardfork Upgrade

By Vukan Ljubojevic | TH3FUS3 Senior Writer

June 10, 2024 03:30 AM

Reading time: 1 minute, 58 seconds

TL;DR Cardano's founder, Charles Hoskinson, announces the imminent release of the Cardano Node 9.0 this June, paving the way for the Age of Voltaire. The upgrade, known as the Chang Hard Fork, will transform Cardano's decentralized governance. The update could increase ADA's price significantly.

Cardano founder Charles Hoskinson had shared a significant scoop that might serve as a major springboard for ADA price before the end of the month.

Taking to his official X account, Charles Hoskinson said it looks like June will be the month that Cardano Node reaches 9.0. With multiple years committed by the protocol's developer teams to building the Chang Hard Fork, the Cardano founder noted that this and other upgrades are now ready.

The Road to the Hard Fork

What is needed now is getting 70% of the protocol's Stake Pool Operators (SPOs) to install the new node. Once this is done, Charles Hoskinson said, "a hard fork can occur pushing Cardano into the Age of Voltaire."

Many industry experts have intensely criticized the Cardano ecosystem, especially for its claims of centralization. Despite these criticisms, the protocol has maintained its composure and focused on advancing its governance structure.

According to Charles Hoskinson, this incoming Cardano hard fork will herald the enhanced decentralized governance described as the most sophisticated in the industry.

"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 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," Charles Hoskinson said in his post.

Decade-Long Development

The development of the Cardano Chang hard fork has taken close to 10 years. Should the protocol make history as planned, Hoskinson has set the tone for the next decade—to make a dent in the universe.

The community is just processing this Chang hard fork update from the Cardano founder. However, the impact on ADA prices remains a common concern for many.

Despite ranking in the top 10 of the most capitalized digital currencies in the industry, many consider the price undervalued. At the time of writing, Cardano is changing hands for $0.4398, up by 0.68% in 24 hours. In the Year-to-Date (YTD) period, the coin has slumped by 27%, serving as a significant concern.

Market Reactions Anticipated

With the Cardano hard fork in view, a new outlook might engulf ADA. This outlook remains imminent with increased demand from investors potentially interested in the governance system. This upside can help trigger a decoupling from Bitcoin (BTC), helping to drive its price to a new high.

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