The Cardano blockchain is all set to receive a major node upgrade this month in June 2024. The Voltaire upgrade is scheduled to be completed in the next few weeks as the network is ready for the Chang fork.
The development pushes the Cardano blockchain to create a fully decentralized ecosystem and the roadmap is in its final stages. The node will reach the new version 9.0 initiating a hard fork to enter the Voltaire era. The network is currently in the Basho era and is only a few weeks away from the Voltaire era.
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Why is the Node Upgradation Important For the Cardano Blockchain?
Once when the blockchain completes the Voltaire node upgrade, the seven-year-old network will no longer be actively managed by the Cardano development firm IOHK. It will instead be completely run by the community members hereon and not by IOHK. In addition, it will also boast of a new governance system, annual budgets, and a separate treasury, among others.
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The co-founder of the Cardano blockchain Charles Hoskinson confirmed that the node upgrade will be completed in June 2024. “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,” he said.
Hoskinson added that once the Voltaire node upgrade is completed, the Cardano network will be the most advanced blockchain. “We’ll have the most advanced blockchain governance system, annual budgets, a treasury, and the wisdom of our entire community to guide us,” he added.
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A cryptocurrency analyst explained that Cardano’s native token ADA has always surged in price after a node upgrade. He added that the next node upgrade in June could also make ADA scale up in the charts. “So, in June the Cardano blockchain will receive the node upgrade and in August all nodes should be updated and Chang should be live. Before all other important hard forks, ADA’s price went nuts. A $2 ADA in August is highly likely!” said an analyst.