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.
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