Cardano Enters Voltaire Era, Sets a New Record

Whale Activity and Market Dynamics: Impact on Cardano's Price Trajectory

As expected, Intersect, an organisation built on involving Cardano community members, has launched the Cardano Ballot event. It’s an opportunity for all ADA holders to share their thoughts on future decisions for the blockchain.

After six years of development and improvements, the network reached a significant milestone known as the Voltaire era. This phase emphasises principles and community leadership, encouraging everyone in the ecosystem to play a part. The community now gets to decide on the direction ahead.

The proposal was explained in Cardano’s “CIP-1694” enhancement. It aims to establish effective on-chain governance. It gives every ADA holder a say in Cardano’s future. Notably, CIP-1694 is the most active proposal in Cardano’s history. It has over 400 comments on Github, 50 workshops globally, and more than 1,000 participants.

SanchoNet Advances: Cardano’s Governance Enters Phase 5

In addition, this year, SanchoNet, Cardano’s testnet for innovative governance, entered Phase 5. Distinguishing itself from other tenets, SanchoNet is a community-driven platform. SanchoNet GovTool will be in beta in November, making participation easier for the broader community via a friendly user interface.

Furthermore, voting on CIP-1694 will use the Cardano Ballot, developed by the Cardano Foundation and Input Output Global. Once confirmed, Cardano’s governance will entirely shift to the community.  

By extension, ADA holders can create proposals for Cardano’s future, submit them for a vote, and, if approved, implement them.

CIP-1694 represents a significant advancement in Cardano’s on-chain governance framework, aiming to improve and enrich the inclusive nature of governance itself, giving the community a stronger voice in shaping the fate of the blockchain.

As a reminder, ADA holders who wish to participate in the voting must have staked their ADAs on a Stake Pool Operator (SPO) by 20 November.  Voting will open on 1 December at the Cardano Ballot and close two eras (10 days) later, on 11 December. Results are expected on 16 December.

Read Also: Cardano Eyes Collaboration with Kraken: Founder Drops Hints 

Cardano Hits Record: Surpasses 78 Million Transactions

Cardano recently celebrated a significant achievement, processing 78.3 million transactions since it started in 2017. Despite facing some criticism, Cardano has shown stability over time. 

Cardano has shown no downtime over six years compared to many newer blockchains. Increased decentralization through new applications on Cardano has contributed to the recent increase in transactions. 

In addition, on-chain analysis reveals that the network has handled more than 78 million transactions. Also, the network aims to have 10 million addresses in the next two years.

In the last week, Cardano handled 1.29 million transactions, with an effective count per second (TPS) of 2.13. Although the maximum TPS is 6.1, the network could easily take more than six transactions per second, demonstrating a capacity for growth.

This success aligns with Cardano’s growing user and developer activity, placing it among the top networks for development alongside Ethereum and Polkadot. Likewise, the total value of blocked assets in Cardano-based DeFi protocols has surpassed the Bitcoin network, solidifying its position in the blockchain ecosystem.

Read Also: Cardano Surpasses 78 Million Transactions, Sets a Milestone 

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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