Cardano Officially Begins Voltaire Era with Governance Uprade

Cardano has transitioned into its Voltaire era following the Chang hard fork on September 1.

This update shifts power to ADA holders, allowing them to participate directly in network governance. A portion of transaction fees will now fund projects approved by the community, marking the final step in Cardano’s roadmap.

Initially, a temporary Constitutional Committee will oversee the network, guiding it until the community fully takes control. ADA holders will also elect Delegate Representatives (DReps) to help shape governance, while Stake Pool Operators (SPOs) ensure fair representation.

The rollout is happening in two phases. Phase One, triggered by the Chang upgrade, allows DReps to start gathering support. This stage will last around 90 days, with the temporary committee monitoring progress. Phase Two will then hand decision-making power to DReps and SPOs, who will address critical governance issues.

A key moment in this transition is the burning of the genesis keys, which originally gave network control to Cardano’s founders. Although the community has been quick to get involved—with 45 DReps stepping up within a day of the upgrade—the market response was less enthusiastic. ADA’s price dropped over 4%, reflecting broader market trends and pushing the cryptocurrency out of the top 10 by market cap.