In order to reach its goal of a completely decentralized blockchain ecosystem, the Cardano network is getting ready for the Voltaire update.
As part of the upgrade, Cardano will include a treasury and voting system so that users can have a say in how the platform is built in the future.
How will the latest version of Cardano Voltaire affect things?
The "eras" that Cardano went through in its development were named after famous poets and computer scientists like Lord Byron, Percy Bysshe Shelley, Joseph Gauguin, Matsuo Basho, and Voltaire.
The focus of the present Bashō era is on expanding the blockchain. Governance, voting, and treasury management functionality are introduced in the latest era, Voltaire. It follows that the upgrade will be possible due to the impending Chang fork. Charles Hoskinson, founder of Cardano, stressed that Voltaire will turn the network into a completely decentralized blockchain ecosystem.
For Cardano and the cryptocurrency industry at large, this represents a watershed moment in history. Cardano has the potential to grow into a global, decentralized society housing millions of people. According to Hoskinson, the most cutting-edge blockchain governance system, yearly budgets, a treasure, and the collective knowledge of the community will all serve as our compass.
