Cardano (ADA) is known as one of the most active crypto networks in terms of development. One major change after another is rolled out. The development of Cardano consists of several “eras” and the next one is already in the queue: “Voltaire.” The introduction of the Voltaire era will follow three major steps, explained Input Output Global, the company behind Cardano, on March 1.
Three big steps for Cardano
Voltaire will be the fifth era of Cardano. This is the last phase for Cardano and will be aimed at governance, or management. Input Output wants to take Cardano’s decentralization to new heights. Nigel Helmsley, Vice President of IOG, explains what these three big steps mean for Voltaire and Cardano.
As per the announcement back at IOScotFest ‘Age of Voltaire’ in November, IOG aims to deliver #Voltaire via three governance pillars, the MBO, the Constitution, and Democratic consent.
Here’s Nigel with more 👇
Watch the full video here: https://t.co/atg4eSbyNw #Cardano pic.twitter.com/7xKG0ycAgs
— Input Output (@InputOutputHK) March 1, 2023
The first step is MBO, which stands for member based organization. MBO is the starting point for all governance processes for the protocol. Think of it as the agora, or gathering place, for Cardano driver.
The second step is the constitution, or constitution. This is a set of rules that all members of the Cardano community must adhere to. The network has the ambition to become a democratic blockchain network with the Voltaire era. A constitution is crucial, and will act as the backbone of the democratically governed Cardano network.
The third and final step is democratic consent, or democratic consent. This will become the democratic mechanism behind all decision making of the Cardano network. Using this mechanism, which uses the blockchain, the entire Cardano community will become part of the development and functioning of the network.
A first for crypto
Once the Voltaire era is live, and functioning as expected, Cardano will stand on its own two feet, so to speak. The users of the network will then jointly control the network through a democratic system supported by blockchain technology.
Charles Hoskinson, the founder of Cardano, previously indicated that Cardano with Voltaire will be an example for the entire crypto sector. Cardano is therefore entering a very special and exciting time with the anticipation of the Voltaire era.