Cardano is preparing for a new era called Voltaire that aims to enable complete decentralization. This will be achieved by integrating a voting and treasury mechanism that will empower network participants to use their stake and voting rights to influence the network’s future growth.

The Cardano network currently uses a distributed architecture developed during the Shelley era, but to achieve real decentralization, the platform needs to be able to sustain and improve itself in a decentralized manner. The Voltaire era will allow network users to propose enhancement ideas that stakeholders can vote on using the existing staking and delegation procedures.

In addition, the Voltaire period will introduce a treasury system, which will pool a portion of all transaction fees to finance future development efforts following the voting process. This will enable the community to take control of Cardano’s future by providing the resources needed to expand and extend the platform from a secure, decentralized foundation established by IOHK, the organization in charge of Cardano’s research and development.

IOHK recently provided an update on Cardano’s Age of Voltaire, emphasizing the importance of CIP-1694, a Cardano Improvement Proposal named after the French enlightenment thinker Voltaire. The proposal aims to improve democratic decision-making throughout the ecosystem by providing on-chain procedures. IOHK is currently co-creating and designing the concept with the community.

To gather feedback and leverage the collective wisdom of the Cardano community, IOHK, the Cardano Foundation, and EMURGO co-hosted the CIP-1694 Workshop in Colorado four weeks ago. IOHK plans to host additional seminars and debates in the upcoming months to push the CIP toward validation and adoption by the community.

Once both the voting and treasury systems are in place, Cardano will be truly decentralized, and IOHK will no longer be in charge of the platform. The community will have the power to shape the future of Cardano by providing the necessary resources for its growth and evolution. The Voltaire era of Cardano will mark the final pieces needed for the platform to become a self-sustaining system that can be maintained and improved in a decentralized manner.

#Cardano #ADA #IOHK #Voltaire #azcoinnews

This article was republished from azcoinnews.com

In fundamentally strong projects.

#Cardano (ADA) is a blockchain platform that aims to #create a decentralized financial system, providing security, scalability, and broad opportunities for developers.

Developed by the #IOHK (Input Output Hong Kong) team under the leadership of Charles Hoskinson, one of the co-founders of Ethereum.

One of the main strengths of Cardano is its Proof-of-Stake (#PoS ) protocol called Ouroboros. It secures the network by recruiting users who own ADA tokens to ensure consensus and maintain the network. This protocol is known for its energy efficiency, which makes Cardano environmentally sustainable compared to many other cryptocurrencies.

🤔 One of the key elements of Cardano is its scientific approach to development. The IOHK team actively cooperates with universities and experts in the field of cryptography and blockchain. This approach helps ensure high technology quality, security and innovation in the Cardano ecosystem.

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