New updates about Cardano (ADA) show that its on-chain governance system is moving forward, which is an important development as it enters the Voltaire era.
Right now, ADA holders are being asked to join in and help make decisions for the future of blockchain. Please read the information below for all the details.
- Voltaire: A very important stage that changes Cardano (ADA) and gets the crypto community involved in making decisions on the blockchain.
- SanchoNet is an exciting new way of governing on Cardano. We are currently in phase 5 and facing some upcoming challenges.
- Cardano has processed over 78 million transactions, breaking a new record.
Voltaire is a big change for Cardano (ADA) that gets the crypto community involved in making decisions.
Intersect, a group in the Cardano community, started the Cardano Ballot event for ADA holders to share their ideas about future decisions for the blockchain.
After six years of building and improving, Cardano has achieved a significant milestone called the Voltaire era.
Recognized by a focus on principles and leading the community, this new phase encourages everyone in the ecosystem to be accountable and included. So now it’s time for the community to decide what to do next.
The proposal in Cardano’s “CIP-1694” aims to let every ADA holder have a say in deciding Cardano’s future through on-chain governance.
Remember that CIP-1694 is the most successful improvement idea in Cardano’s history. It has over 400 comments on Github, 50 workshops around the world, and more than 1,000 people taking part.
SanchoNet is using new ways to govern the Cardano blockchain. They are in phase 5 and facing new challenges.
Also, this year, a test network called SanchoNet was launched for Cardano’s new way of making decisions. It’s already in the fifth phase of development. SanchoNet is different from other test networks because it’s a lively, welcoming platform driven by the community.
In November, SanchoNet GovTool will be ready for testing, which will make it easier for more people in the Cardano community to join in using a simple and easy-to-use interface.
The way voting is done for CIP-1694 will be controlled using Cardano Ballot. It was created by the Cardano Foundation and Input Output Global working together.
When CIP-1694 is approved, the community will have full control over how Cardano is governed.
This means that people who have ADA can suggest ideas for the future of Cardano, and if the ideas are voted for and accepted, they can be put into action.
CIP-1694 is a big step forward for Cardano’s way of making decisions. It is meant to make governance more inclusive and give the community more power to influence the blockchain’s future.
Just a reminder, ADA holders who want to vote need to have put their ADAs with a Stake Pool Operator by 20 November.
Voting starts on December 1st at the Cardano Ballot and ends 10 days later on December 11th. We should know the results by December 16th.
Cardano has processed over 78 million transactions, setting a new record.
The Cardano network has reached a big achievement by processing 78. 3 million transactions since it started in 2017.
Despite being criticized for its productivity in the past, the Cardano network is known for being very stable and lasting a long time.
Actually, Cardano has worked well for over six years without any breakdowns, which is different from many other newer blockchains. More and more people are using new applications on Cardano, which has led to more transactions happening.
Furthermore, looking at the network’s activity, we can see that there have been over 78 million transactions so far. The aim is to have 10 million addresses within the next two years.
In the last week, the Cardano network handled 1. 29 million transactions at a rate of 2. 13 transactions per second.
Even though the maximum TPS is 6. 1, it means the network can handle more than six transactions per second, showing it can grow.
This is a big achievement for Cardano because more people are using and working on it. It is now one of the top networks for development, along with Ethereum and Polkadot. The amount of money locked in Cardano-based DeFi protocols is now higher than in Bitcoin, showing that Cardano is becoming more important in the blockchain world.