Cardano, the blockchain network powered by Charles Hoskinson, is on the cusp of a major upgrade. Chang's upcoming hard split, targeted for June, promises to usher in a new era dubbed the “Age of Voltaire.” As excitement boils within the Cardano community, a crucial question remains: Will this translate into a rise in cryptocurrency prices? Adathe native code of the network?
Hoskinson's vision came true
Guided precisely by the vision of Charles Hoskinson, Cardano's development has been a marathon, not a sprint. Unlike some blockchain projects that prioritize rapid innovation, Cardano focuses on rigorous testing and peer-reviewed research.
One of the main features of Chang's hard fork It is the implementation of Voltaire, a new system of government championed by Hoskinson himself. He boasts that Voltaire will be “the most advanced blockchain management system” in existence.
It looks like June will be the month that the Cardano node will reach 9.0. This means that Cardano is ready for the Chang fork and is waiting for 70 percent of SPOs to install the new node. After that, a hard fork could occur that pushes Cardano into the Voltaire Era.
It's the most important…
– Charles Hoskinson (IOHK_Charles) June 9, 2024
It enables ADA holders to participate in shaping the future of the network through a proposal and voting system. This enhanced decentralization addresses a major criticism that Cardano has faced – concerns about perceived centralization under Hoskinson’s leadership.
Will Cardano investors see the light?
While the technical advances and increased decentralization supported by Hoskinson are exciting developments, the impact on the price of ADA remains cause for debate. The token has had a tough year, currently trading at around $0.44. Significant decrease From an all-time high of $3.
Supporters believe that Chang's fork could be a catalyst for price increases. Increased investor interest in a more robust governance structure could lead to increased demand for ADA. Additionally, decoupling from Bitcoin price movements is a possibility. If ADA establishes itself as a leader in decentralized governance, its value proposition could become independent of broader market trends.
However, doubts remain. The cryptocurrency market is known to be volatile, and large price fluctuations often depend on a range of factors beyond technical upgrades. Some analysts warn that the impact of the hard split on the price may be exaggerated.
innovation vs. Market fluctuations
The Chang hard fork is a pivotal moment for Cardano. It represents a huge leap forward in terms of functionality and decentralization. However, the project faces the challenge of balancing its commitment to end-to-end development with the fast-paced and often impatient nature of the cryptocurrency market.
In the meantime, Cardano's careful approach, while laudable, may need to adapt to the ever-evolving demands of the cryptocurrency landscape.
Featured image of Indian Infrastructure, chart from TradingView
