A popular Cardano (ADA) influencer called ADA whale has indicated that he believes Cardano can “become bigger than anything in the crypto world”. This is provided that the decentralized governance system appears to work well.
“Not every Cardano user understands this”
The influencer shared his opinion about Cardano on his Twitter. He indicated that Cardano is more secure and centralized than other blockchains, but that the average user does not always understand this.
In a way Cardano is a blockchain like all others. Sure, we can argue how it’s more secure, decentralized etc. The avg user doesn’t always get this. But if decentralized governance under Voltaire works out, Cardano will be unlike anything seen in crypto before. It will be bigger
— ADA whale (@cardano_whale) August 4, 2022
So he believes that when the decentralized governance system under Cardano’s Voltaire update is implemented and actually does its job, we’ll probably see something we’ve never seen before.
Cardano’s Voltaire update was described in the roadmap. It said these are the “last pieces needed for the Cardano network to become a self-sustaining system.” In this update, a voting system will be introduced with a treasury system. This will allow users to strike and use their ADA tokens to gain the right to vote. They can use this vote when new proposals for improving Cardano are made.
“To that end, the Voltaire era will add the ability for network participants to present Cardano improvement proposals for voting by stakeholders, leveraging the pre-existing stakeout and delegation process.” Is there written in Cardano’s roadmap.
Cardano network is growing very fast
However, the Cardano network has been doing very well lately. For example, Crypto Insiders recently described in a Premium analysis about Cardano how fast the network grew in a few months. In the meantime, 3.5 million wallets have already been created on the network. This will only continue to grow faster in the run-up to the Vasil update.
In addition, another milestone had been reached for the network. The number of smart contracts developed on the hot Cardano network has surpassed 3,000 for the first time. This has also risen sharply in the run-up to the Vasil update that should be released in a few weeks.