After entering the Voltaire era, the Cardano development firm IOHK will no longer directly manage the seven-year-old blockchain. Instead, full control and operation will be entrusted to community members.
In his latest post on the X platform on Monday, June 10, Cardano CEO Charles Hoskinson stated that the Cardano network would soon move into the final phase of its multi-year program aimed at becoming a truly decentralized network. As a result, the Voltaire upgrade would be ready by the end of this month, he added.
The first step will involve upgrading the validating node software operated by the system’s stake pool operators, or SPOs, to its latest version. Later on, the Cardano blockchain will evolve into a backward-incompatible version, basically a hardfork, thereby entering into a new era of Voltaire. Currently, the Cardano network is in the Basho era.
According to the project’s roadmap, upon completion of the transition, the Cardano development firm IOHK will no longer directly manage the seven-year-old blockchain. Instead, full control and operation will be entrusted to community members. Hoskinson said:
“It looks like June will be the month that Cardano Node will reach 9.0. This means that Cardano is Chang fork ready and waiting for 70 percent of the SPOs to install the new node. Then, a hard fork can occur pushing Cardano into the Age of Voltaire. We’ll have the most advanced blockchain governance system, annual budgets, a treasury, and the wisdom of our entire community to guide us.”
The first part of the Voltaire era will see the implementation of CIP 1694 which will allow the ADA native token holders to vote on topics and features benefitting the Cardano ecosystem. The second step will allow the introduction of more novel features including proxy participation and treasury withdrawal. This will allow us to propose and fund projects within the Cardano ecosystem.
Cardano Recent Updates
Last week, the Lace team released Version 1.12, bringing significant enhancements and a notable addition: a fiat on-ramp facilitated by Banxa, a third-party service provider. Users are now able to select fiat currencies to fund their wallets through this service.
Moreover, the Plutus team unveiled version 1.29.0.0 of the Plutus libraries. This marks the inaugural Conway-ready Plutus release, featuring the incorporation of CIP-69 and CIP-117, alongside various other enhancements and additions.
Cardano’s native cryptocurrency ADA has been a poor performer among other altcoins slipping to the 10th rank. The ADA price is currently trading 3.58% down at $0.42 with a market cap of $15.3 billion.
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