Voltaire, Cardano's 5th and final development stage

The Voltaire era of Cardano is set to be the final stage of the cryptocurrency's five-era roadmap. This phase will focus on making the Cardano network self-sustaining through the introduction of a voting and treasury system, allowing network participants to use their stake and voting rights to influence the future development of the network. The voting system will allow Cardano improvement proposals to be presented and voted on by stakeholders. In contrast, the treasury system will pool a fraction of all transaction fees to fund development activities approved through voting.

The introduction of these systems will mark the end of IOG's management of Cardano and the beginning of a truly decentralized network, where the community will have the power to shape the future of the cryptocurrency. This is a highly anticipated moment for the Cardano (ADA) community, as it marks the completion of the altcoin's mission to become a secure, decentralized platform for smart contracts.

Cardano has come a long way since its launch in 2017, with a research-based operating model that has seen the cryptocurrency go through several phases of development. The first phase, known as the Byron era, saw the launch of the altcoin and the creation of the Daedalus and Yoroi wallets. Next, the Shelley era focused on decentralizing the network through staking, while the Goguen era saw the introduction of smart contracts in 2021. Finally, the Basho era focused on scalability, enabling the growth of DeFi and NFTs on the Cardano network.

The Voltaire era is already well underway, with the introduction of Catalyst, a decentralized governance project (you can find out more about Project Catalyst by reading our outpost here). This project is designed to gather feedback from the community and test various governance models, with the ultimate goal of creating a self-sustaining network. The team behind Cardano is also working on the creation of a Cardano Improvement Proposal (CIP) system, which will allow community members to submit their own proposals for the development of the network.

One of the key benefits of the Voltaire era will be the increased transparency and accountability of the network. With the introduction of the voting and treasury systems, community members will be able to see how funds are being used and have a say in how they are allocated. This is a significant step forward for the cryptocurrency, as it moves away from a centralized model and towards a more decentralized system.

Charles Hoskinson, the founder of IOG, recently covered some of the work to develop the governance system underpinning the Voltaire era.

Flagship thoughts

In conclusion, the Voltaire era of Cardano is a highly anticipated moment for the cryptocurrency community. It marks the completion of the altcoin's five-era roadmap and the beginning of a truly decentralized network. Furthermore, with the introduction of voting and treasury systems, community members will have the power to shape the future of the network and ensure its long-term sustainability. This is a significant milestone for Cardano and a testament to the hard work and dedication of the team behind the cryptocurrency.

Regulation within the crypto industry is now inevitable, especially in the wake of FTX. The projects with the best chance of avoiding being regulated out of existence are those that can demonstrate true decentralization.

Given the work being done in the Voltaire era, if successful should help the Cardano ecosystem avoid the worst of any regulatory clampdown. Beyond avoiding regulation, true decentralization should prevent many of the issues that have caused this latest bear market and help to deliver on the ideals many blockchain purists continually tout. I am excited to see where a community-led approach can take the Cardano ecosystem.