This final phase of Cardano’s roadmap focuses on establishing a robust governance framework and empowering the community to shape the network’s future.

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The Significance of Voltaire

The Voltaire era is characterized by the introduction of a voting and treasury system, enabling ADA holders to actively participate in decision-making processes that affect the network’s development and direction.

This shift towards decentralized governance places the power in the hands of the community, ensuring that the network remains aligned with the collective interests of its stakeholders.

The voting system, a cornerstone of the Voltaire era, allows ADA holders to propose and vote on Cardano Improvement Proposals (CIPs) and Funding Proposals (FPs), which outline potential changes to the network’s protocol or features.

This mechanism ensures that the community has a direct say in shaping the future of Cardano, fostering a sense of ownership and engagement among ADA holders.

The Treasury System

The treasury system, another key component of Voltaire, allocates a portion of transaction fees to a community-managed fund. This fund will be used to finance development initiatives, support ecosystem projects, and incentivize participation in governance activities.

By establishing a sustainable funding mechanism, the treasury system ensures that Cardano’s growth and development are not reliant on external sources, further solidifying its autonomy.

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A Glimpse into the Future

Cardano has deployed a testnet called SanchoNet to provide a real-world preview of the Voltaire era’s features. SanchoNet allows users to experience the voting and treasury systems firsthand, simulating the governance processes that will shape Cardano’s future.

This hands-on approach enables the community to test and refine the governance framework before it is fully implemented on the mainnet.

The Voltaire era represents a crucial step in Cardano’s journey towards true decentralization. The crypto project is empowering the community with the tools to govern and sustain the network. This will pave the way for a future where its development is driven by the collective wisdom of its stakeholders.

This shift towards decentralized governance sets Cardano apart from many other blockchains, positioning it as a pioneer in the quest for a truly self-governing and sustainable blockchain ecosystem.

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According to a Monday update from Charles Hoskinson, Cardano is gearing towards the implementation of another upgrade that will improve the governance of the blockchain, its overall performance, and user experience. This stage of development called “Voltaire” is the last on Cardano’s roadmap.

“The Age of Voltaire will soon be upon us as an ecosystem. It’s going to unlock the power of the millions of Cardano users and builders. It will also, once again, show the rest of the industry how to do decentralized governance just like we did with Staking,” Hoskinson wrote.

The Age of Voltaire will soon be upon us as an ecosystem. It's going to unlock the power of the millions of Cardano users and builders. It will also, once again, show the rest of the industry how to do decentralized governance just like we did with Staking. pic.twitter.com/HO8PgA5J2G

— Charles Hoskinson (@IOHK_Charles) October 3, 2022

It is said that the Voltaire era will focus on making the Cardano network a self-sustaining system. During this future developmental stage, voting and treasury systems will be introduced. In consequence, network participants will be able to use their stake and voting rights to influence the future development of the network. This is known as decentralized governance.

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“For the Cardano network to become truly decentralized, it will require not only the distributed infrastructure introduced during the Shelley era but also the capacity to be maintained and improved over time in a decentralized way. To that end, the Voltaire era will add the ability for network participants to present Cardano improvement proposals that can be voted on by stakeholders, leveraging the already existing staking and delegation process,” Cardano’s roadmap revealed.

Stages of Development on Cardano (ADA) Blockchain

Cardano’s roadmap shows five stages of development with each having specific purposes namely, Byron, Shelley, Goguen, Basho, and Voltaire. The Byron era was the first and is regarded as the foundation of the Cardano blockchain. During this stage, the network was federated.

The Shelley era of development came to optimize decentralization on Cardano. Being that this next level of growth focused on decentralizing the core of the system, it led to the introduction of delegation and incentive schemes. This reward system is what is driving stake pools and community adoption today. To note, at this stage of Cardano, it had no smart contract functionalities.

The Goguen era was a big step forward for Cardano as it led to the integration of smart contracts on the network. It added the ability to build decentralized applications (DApps) on the Ouroboros-powered blockchain. Plutus, the top smart contract development language was created during this stage of Cardano. A modified version, Plutus V2 was rolled out courtesy of the just completed Vasil hardfork combinator event.

Read Also: Charles Hoskinson: Cardano Is Changing the World, Our Best Days Are Ahead Of Us

Whereas, Shelley focused on decentralization and Goguen concentrated on smart contracts, Basho, the current developmental era of Cardano is all about the improvement of the underlying performance of the Cardano network to better support growth and adoption for applications with high transaction volume.

With the age of Voltaire around the corner, Charles Hoskinson said the Cardano blockchain would become wholly decentralized, interoperable, and scalable.

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