Cardano’s founder, Charles Hoskinson, announced that the blockchain network is on its way to achieving full decentralization with its new governance model, Voltaire. Under Voltaire, ADA holders will have a direct say in the future of the ecosystem, while the role of IOG and Hoskinson will be reduced.
Hoskinson expressed his vision for a decentralized infrastructure in a recent broadcast, suggesting the inclusion of service layers within the system. These service layers would have their own blockchain, tokenomics, transaction logic, network logic, and consensus logic, all connected through a bridge.
The ultimate goal is to make Cardano the center of decentralized applications (dApps) by moving as much off-chain and centralized data onto the platform as possible. Hoskinson emphasized the importance of interoperability, as Ethereum and Bitcoin are not going away, and bridging to other networks is necessary.
Although networks like Ethereum may have more developers at the moment, Hoskinson sees them as potential customers for Cardano. By allowing dApps written in Solidity on Ethereum to connect with Cardano’s decentralized network, a strategy can be crafted to bring all the different elements together.
Hoskinson also discussed the Cardano Ballot and CIP 1694, which propose an on-chain decentralized governance mechanism for Voltaire. The Cardano Ballot serves as an open-source platform for community feedback on governance-related topics before proposals are officially submitted. This includes issues such as hard forks, treasury, budgets, and other significant matters.
Despite the updates, the price of ADA has not responded positively, trading at $0.3572 at present and experiencing a 6.6% loss in the past 24 hours. However, the token has seen a 44% increase in the past 30 days, reaching its highest level since May.
Despite the price fluctuations, supporters of Cardano remain optimistic about the future of the token and the blockchain network’s commitment to decentralization. They believe that Cardano provides a platform where everyone’s voice is heard, regardless of their role in the community, and that the more they express their concerns and opinions, the stronger Cardano will become.
For more information on Cardano and its developments, users can refer to the recommended resources, including a Cardano buying guide, a Cardano wallet tutorial, and the latest Cardano news.
