Cardano (ADA) founder Charles Hoskinson said blockchain networks will soon enter the Voltaire era, showing the industry “how to do decentralized governance.”
The age of Voltaire as an ecosystem is upon us. Unlock the power of millions of Cardano users and builders. We will also show the rest of the industry how to do decentralized governance, just like we did with staking. pic.twitter.com/HO8PgA5J2G
— Charles Hoskinson (@IOHK_Charles) October 3, 2022
What is Cardano’s Age of Voltaire?
In the age of Voltaire, Cardano Become Fully autonomous by introducing a voting and financial system. This era marks the complete decentralization of Cardano starting with the introduction of decentralized infrastructure in the Sherry era.
By then, blockchain users will have more say in the direction of the network as they can submit improvement proposals for Cardano.
A Ministry of Finance will also be set up to fund the CIP passed by the community. A portion of transaction fees will be pooled in the Treasury.
According to Cardano’s roadmap, Voltaire marks the end of IOHK’s control of Cardano and the beginning of its evolution into a “truly decentralized” blockchain network.
Cardano Begins Preparing for the Age of Voltaire
a blog post Bingsheng Zhang published on the IOHK blog explains that Project Catalyst will test the concept of finance and democratic voting.
“IOHK is currently applying Project Catalyst’s financial mechanism capabilities that combine research, social experimentation and community consent to establish an open and democratic culture within the Cardano community.”
Input Output says, “Project Catalyst will soon be rolling out to its first public beta program after a closed summer group trial.”
Our office clearly The project’s first public funding includes up to $250,000 worth of ADA. The fund focuses on how the network will “inspire developers and entrepreneurs to build Dapps and businesses on Cardano over the next six months.”
Meanwhile, the community is starting to see the effects of the latest upgrades. Cardano users should upgrade Vasil to Decrease 50% transaction fee.
Confirmed: #cardano Vasil’s hard fork has been cut $ADA Nearly 50% reduction in gas prices, 10x increase in trading space
— Michael Rubell (@michaelwrub) October 2, 2022
