Cardano Prediction: This Will Allegedly Make ADA The Most Valuable Coin
Last month, Cardano’s Charles Hoskinson addressed the governance of Cardano, and he also revealed some future plans for it.
Hoskinson also said that about 30% of all the blocks are now produced by the community’s stake pools, and the figure will rise to 50% by November.
A new voting and treasury system
He also pointed out the fact that with Voltaire, which is the final phase of development, the Cardano network will become a self-sustaining system, as the online publication Crypto News Flash notes.
A new voting and treasury system will enable the network participants to influence the future development of the network via their shares and voting rights.
“That innovation management partner is called Idenscale what they do is that they take what you propose […] and work with the community […] and that’s what we started doing with fund #1 as a prototype with a focus group, and they get you to a better ballot, ballot #2. […] and iterate it further,” Hoskinson said.
It’s been also revealed that every 6 to 8 weeks, there will be votes at the Cardano Blockchain where ADA owners can vote on whether or not to support a specific proposal.
Hoskinson also said that “[…] launch funds with the Cardano treasury, the stake pool rewards some go to the delegators, some are already going into the treasury account that lives in Cardano.”
He continued and explained that “It’s managed by the blockchain itself and funds can be moved over to treasury tranches, people vote and they either decide to return it to the treasury, or they decide to distribute it to ballot proposals.”
Cardano’s DeFi will scale to millions
Just the other day, it’s been revealed that in a recent interview, Nicolás Arqueros, CTO at Emurgo, made sure to address the extent to which the Cardano blockchain will establish its own DeFi ecosystem in competition with Ethereum.
With the upcoming Goguen era, Cardano will get the chance to hold a DeFi ecosystem.
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.