Cardano is Heading Towards The Next Stage Of Governance: Voltaire And Catalyst
After the successful Shelley upgrade, Cardano’s team said that there is still a lot of work to do these days.
The Cardano community talks about how the future will be changed with the help of Cardano. Check out the post that they shared:
What will be the major differences between the #blockchains of today and the blockchains of the future? Across #scalability, security, and #decentralization — our latest blog post explores how the future will be different with #Cardano. https://t.co/ZCbiRn0YxN
— Cardano Community (@Cardano) August 12, 2020
Project Catalyst and the Voltaire phase
CryptoBriefing notes that Cardano’s Project Catalyst will be allowing the community to propose and vote on certain community projects and proposals. Also, it’s important to note that the Voltaire phase will introduce more governance fees.
Cardano announced the first stage of Project Catalyst, the first part of its governance system:
Today, we’re kicking off ‘Fund 1’, the first exploratory stage in our Project Catalyst governance program for #Cardano. Project Catalyst is an exciting experiment in decentralized governance @Cardano #Voltaire 1/
— Input Output (@InputOutputHK) August 12, 2020
“We’ll be exploring the big picture themes of decentralized democracy, voting, and governance and how these can be made real,” IOHK said in a separate tweet.
It’s also important to note the fact that Cardano’s Voltaire stage will work towards introducing other governance features in a more extended sense.
“The Voltaire era of Cardano will provide the final pieces required for the Cardano network to become a self-sustaining system. With the introduction of a voting and treasury system, network participants will be able to use their stake and voting rights to influence the future development of the network,” according to the official notes.
The notes continue and explain that for the Cardano network to become completely decentralized, it will need not only the distributed infrastructure that’s introduced during Shelley, but also the capacity to be maintained and improved over time in a decentralized manner.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.