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Cardano Founder Charles Hoskinson Reveals “Age of Voltaire”

 


Cardano (ADA) founder Charles Hoskinson said that the blockchain network will soon enter the age of Voltaire and show the industry “how to govern in a decentralized manner.”


What is Cardano's Age of Voltaire?

The Voltaire era is when Cardano becomes fully autonomous with the introduction of a voting and financial system. This era will mark the full decentralization of Cardano, which began with the adoption of distributed infrastructure in the Shelley era.


Until then, the blockchain users will have more influence on the direction of the network as they can submit suggestions to improve Cardano. There will also be a treasury from which all CIPs decided by the community can be financed. Part of the transaction fees is collected for the so-called Treasure.


According to Cardano's roadmap, Voltaire will mark the end of IOHK's governance of Cardano and the beginning of its evolution into a truly "decentralized" blockchain network.

A blog post published by Bingsheng Zhang on the IOHK blog explains that Project Catalyst is testing the concept of treasury and democratic voting.


“IOHK has now applied the capabilities of the treasury mechanism in Project Catalyst, which combines research, social experimentation, and community consent to establish an open, democratic culture within the Cardano community.”


Input Output stated that "Project Catalyst will be opening for its first public beta program very soon" after being tested in a closed group over the summer.


The company also unveiled the first public fund for the project, which includes up to $250,000 in ADA. The fund focuses on how the network can “encourage developers and entrepreneurs to build dapps and businesses on Cardano over the next six months.”


In the meantime, the community is starting to see the impact of the recent upgrade. A Cardano user pointed out that the Vasil upgrade reduced transaction fees by 50%.


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