Cardano’s Next Phase of On-Chain Governance
The next stage of Cardano’s on-chain governance system, known as Voltaire, is a critical step for the blockchain as it enters this new era. Now, it is up to ADA holders to actively participate in shaping the future decision-making process for the blockchain.
Intersect and Cardano Ballot Event
Intersect, an organization based on stakeholder participation in the Cardano ecosystem, introduced the Cardano Ballot event. This event is aimed at all ADA holders to voice their opinions on future blockchain decision-making. After six years of development, Cardano has reached the Voltaire era characterized by a principles-based approach and community leadership.
SanchoNet: Innovative Governance on Cardano
This year, SanchoNet, the testnet for Cardano’s innovative governance capabilities, was launched and is already in Phase 5 of development. SanchoNet is different from other testnets as it is a vibrant, inclusive, community-driven platform. The SanchoNet GovTool will be available in beta in November to make participation more accessible to the broader Cardano community through a user-friendly interface.
Significant Advancement in On-Chain Governance Framework
CIP-1694 represents a significant advancement in Cardano’s on-chain governance framework and aims to improve and enrich the inclusive nature of governance itself. This enhancement gives the community a stronger voice in shaping the fate of the blockchain. ADA holders who wish to participate in the voting must have staked their ADAs on a Stake Pool Operator (SPO) by 20 November.
Cardano Sets New Record with Transactions
The Cardano network recently reached a significant milestone by processing 78.3 million transactions since its creation in 2017. Despite past criticism for its productivity, the network’s longevity and stability are unquestionable. The increased decentralization through new applications on Cardano has contributed to this recent increase in transactions.
Hot Take: Cardano Solidifies its Position
This milestone comes at a time when Cardano is experiencing an increase in user and developer activity, placing it at the top of networks for development activity alongside Ethereum and Polkadot. Additionally, the total value of blocked assets in Cardano-based DeFi protocols has surpassed that of the Bitcoin network, solidifying its position in the blockchain ecosystem.
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