- Cardano Might Just Be the Most Decentralized and Subsequently the Most Valuable Blockchain Thanks to its New Governance System
- Cardano Might be Making Progress as a Blockchain but the ADA Token is Struggling to Gain Momentum Above the $0.1000 Level
Cardano News Today – Cryptocurrencies and the underlying blockchain technology might not be the easiest to understand but it is no doubt going to take the lead in the next technological revolution alongside artificial intelligence and machine learning. The key feature of blockchain technology is decentralization. The creator of the blockchain, Satoshi Nakamoto, wanted a value transfer system that was free from organization and governmental control. This was his vision when he created Bitcoin on the first ever blockchain. Unfortunately, Bitcoin, Ethereum and many other blockchains that followed have been unable to provide complete decentralization and scalability at the same time. It is these two problems that Cardano, a third generation blockchain, promises to solve.
Cardano News Today – IOHK’s New Voting System Has Changed the Game for Cardano
In a video he posted last week, the CEO of IOHK and co-founder of Cardano, Charles Hoskinson, talked about the Cardano blockchain and how the new voting system will make it the most valuable technology in the space. The voting system, which will start with project funding projects, will eventually evolve to Cardano Improvement Proposals. Every member of the Cardano community who owns ADA will have the power to vote for which projects should be funded by IOHK and which improvements should take hold on the blockchain. Hoskison said that since the Cardano Shelley hardfork, 30% of all the blocks on the Cardano blockchain have been produced in community stake pools. In his words;
“That innovation management partner is called Idenscale what they do is that they take what you propose […] and work with the community […] and that’s what we started doing with fund #1 as a prototype with a focus group and they get you to a better ballot, ballot #2. […] and iterate it further. Every 6 to 8 weeks there will be votes at the Cardano Blockchain where ADA owners can vote whether or not to support a proposal. They can launch funds with the Cardano treasury, the stake pool rewards some go to the delegators, some are already going into the treasury account that lives in Cardano. It’s managed by the blockchain itself and funds can be moved over to treasury tranches, people vote and they either decide to return it to the treasury or they decide to distribute it to ballot proposals.”