Wed. Apr 17th, 2024

Although Cardano has been characterized as a project with a fairly low growth rate, its popularity continues to rise in the crypto enthusiast community as the network becomes one of the fastest developing ecosystems in recent months, which is why Cardano supporters claim that 2023 could be the best year for the network and its native ADA token. Recently through a thread by the Cardano community expert who uses the pseudonym of “ADA Whale” released his opinion regarding Cardano for the next year 2023, where issues such as the governance that the blockchain will implement are highlighted. to enable innovation through high-value projects and transform the blockchain space that will make participants in other networks demand on-chain self-governance.

“The real shock for the system will come when they realize that for many it is more attractive to join a global movement of digital people who want to improve the world, govern themselves and have a fully loaded treasury at their disposal, than to become into an aspiring banker” ADA Whale

What will change the governance in the Cardano network?

With this governance, Cardano will be able to become fully autonomous by introducing voting systems that can take all network participants into account and thus favor a completely decentralized and inclusive system. In fact, Charles Hoskinson, CEO of Cardano recently stated that the network is already testing treasury mechanisms on Project Catalyst to establish an open and democratic culture within the Cardano community.

In conclusion.

After the fork Vasil, Cardano has started to see benefits in lower transaction fees, improvements to the consensus layer, and easier block creation; however, this new initiative will take the network to the next level, something not seen to date and that will seek to eliminate the power of the central companies that can influence the future of the network.

Rate this news!

0 / 5 Number of votes: 0 Your vote on this news:

By Farwa Raza

Farwa Raza is a writer who specializes in news articles. She has been writing on wttspod.com for over one years, and during that time she has written over 100+ articles on various topics ranging from politics to entertainment. Her goal as an author is to provide readers with the latest news stories while also providing her own opinion on them.