Cardano wants to lay the groundwork for full decentralization and plans to do so later this year enter to the Voltaire era. The goal of the Voltaire era is to create a self-sustaining system by introducing voting and treasury systems, which will allow network participants to influence the future development of the network with their shares and voting rights.
The Cardano network currently relies on the distributed infrastructure introduced in the Shelley era. However, to achieve true decentralization, the platform needs maintenance and development capabilities that can operate in a decentralized manner. Following the introduction of the Voltaire Era, network participants will be given the opportunity to submit Cardano development proposals by leveraging the existing staking and delegation process. Interested parties will then be able to vote on these.
In order to finance future developments, the Voltaire era also introduces a treasury system. This collects a fraction of transaction fees to support and fund development activities following the voting process. With the implementation of the voting and treasury system, Cardano will no longer be under the control of the IOG. Instead, the community will control the future of Cardano with the necessary tools to develop the platform from the secure, decentralized foundation created by IOG and add new capabilities and functions.
The Voltaire era is almost here
Last Friday, March 24, IOG, the company responsible for the research and development of the Cardano blockchain, released updated data on the Voltaire Era of Cardano. The update highlighted CIP-1694, the Cardano Improvement Proposal named following the birth year of French Enlightenment thinker Voltaire, as a key component of Cardano’s next-generation governance. This development proposal will be designed and developed together with the community. The goal is to create cross-chain mechanisms that strengthen democratic decision-making throughout the ecosystem.
About four weeks ago, IOG, the Cardano Foundation and EMURGO jointly organized the CIP-1694 Workshop in Colorado. The professional meeting was also named following Voltaire’s year of birth. The goal of the organizers was to collect ideas for future developments and to leverage the collective intelligence and knowledge of the Cardano community.
According to the IOG, this event was the first stop in a series of community events in 2023. Their purpose is to move the CIP towards community validation and implementation. The IOG looks forward to further meetings and discussions in the coming months as the platform prepares to enter the Voltaire era and usher in a new era of governance.
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