Is Cardano's Bull Market Coming? Node 9.0 is about to reach the roadmap's final destination

Among the top 10 rankings of various competing Altcoins, Cardano always holds a spot, but there is a sense of melancholy akin to a wallflower next to the belle. However, the cryptocurrency symbol of Cardano, ADA, is named after a prominent female scientist, the world's first computer engineer, Ada Lovelace.

In 2015, Cardano named the early community period after the British poet Byron as the Byron era. Ada was Byron's only daughter, and the native coin issued on Cardano is called ADA Lovelace coin.

The first version of Cardano allows users to buy and sell ADA coins on the Ouroboros consensus protocol. Ouroboros is the core concept of Cardano and the first academically researched proof-of-stake protocol with mathematically verified security levels.

During the Byron era, Cardano introduced the Daedalus wallet for ADA, the official desktop IOHK wallet, and the Yoroi wallet designed for fast transactions and daily use by Emurgo, a sister company of IOHK.

IOHK, Input Output Hong Kong, is the development team behind Cardano, founded by Ethereum's co-founder Charles Hoskinson and Jeremy Wood. Headquartered in Hong Kong, IOHK later moved to Wyoming in the United States and rebranded the IOHK brand as IOG, Input Output Wyoming.

Another silent and mysterious co-founder of IOG, Jeremy Wood, graduated from Indiana University with a degree in literature. From Cardano's deployment roadmap, one can see an artistic flair. Jeremy Wood spends most of his time in Osaka, Japan, and both co-founders have a strong affinity for Asia. ADA has loyal supporters in communities in Japan, Korea, Hong Kong, mainland China, Taiwan, Vietnam, and Indonesia.

The Cardano development team launched the new node validation software Node 9.0 on July 8. Cardano founder Charles Hoskinson stated in a YouTube video on July 7 that this is the final step before the hard fork in the Cardano development team's roadmap. Node 9.0 supports the hard fork boundary across the mainnet and the long-running PreProd testnet.

Node 9.0 marks Cardano's official entry into the VOLTAIR era, aimed at achieving fully decentralized governance.

The significant changes are outlined in Cardano's CIP1694 improvement proposal. CIP1694 was advocated by ADA token holders DReps, who drafted the Cardano governance constitution and proposed modifications to establish a governance framework.

Cardano named its governance structure after the French philosopher and writer Voltaire, who advocated for liberty, equality, and citizen empowerment.

Voltaire represents the final phase of Cardano's roadmap. During this phase, Cardano will evolve into a thoroughly decentralized autonomous community where all stakeholders, including every ADA holder and token staker, have a say and voting rights in shaping the future.

Unlike the Bitcoin and Ethereum hard forks that involve developing new protocols and replacing old ones, Cardano's hard fork is a buffet-style model. The Cardano blockchain hard fork protocol allows the old ledger to run simultaneously with the new ledger during the transition to ensure a single ledger throughout Cardano's history.

Former Cardano supporter Ben Armstrong, known as BitBoy, stated that ADA has lost institutional favor, with venture capital firms showing no interest in ADA. He believes that the lack of institutional support may hinder ADA's long-term survival but acknowledges that ADA holders could potentially profit in the current market cycle.

Charles Hoskinson countered BitBoy's claims by emphasizing the core principles behind Cardano, stating that the initial vision of Cardano as a non-profit organization was to create a decentralized financial system that could potentially replace existing traditional financial systems, rather than rely on traditional institutions.

Devoted Cardano community supporters believe in Cardano's core concept of community consensus, arguing that Cardano can still experience significant growth without relying on venture capital.

BitBoy's skepticism towards ADA contrasts sharply with his previous support. Just six months ago, he expressed strong optimism for Cardano, even predicting a 2000% price increase for ADA. This dramatic reversal has led to speculation online about his underlying motives for criticism. Twitter user ZKDID commented, "He's setting up to buy the dip for sure."

As of the time of writing, there have been no significant changes in ADA's price. Earlier today, founder Charles Hoskinson encouraged staking in a YouTube livestream, but the video has been deleted.