Cardano’s core development teams received approval from the Treasury to receive 96,000,000 ADA to proceed with the proposed network upgrades.
Input Output Global (IOG) — Cardano’s main development team — submitted the proposal for the equivalent of $71 million in Cardano (ADAThe ) which passed The governance action states that 74%, or 200 votes, were in favor with 6 against and 7 abstaining.
The plan for the next 12 months focuses on scalability and developer experience, as well as interoperability.
It still raised some concerns from the public about costs, transparency and accountability.
Faster transactions and better onboarding are included in the upgrade.
Intersect, a Cardano-based member organization, will act as the independent administrator.
Smart contracts will oversee the other aspects of payment, while a committee and dedicated smart contract are in charge. according IOG.
IOG has to provide monthly updates and budget breakdowns.
Hydra, which is a protocol to support fast-paced, high-volume data transfers, is one of many key projects that are included in IOG’s proposal. low-cost transactionsProject Acropolis is a modular redesign of the Cardano Node that allows for more flexibility and an easier integration of new developers.
Cardano has a transaction fee of 0.34 ADA. according According to Messari blockchain research company, the average block time is 20 seconds.
IOG will also look to optimize performance to decrease RAM usage, reduce operating costs and implement the technical foundations of smart contracts that are more advanced and interoperable.
Cardano Community Voices Concerns about Costs and Transparency
Tim Harrison said, in a press release issued on Saturday, that it was the first instance the Cardano core development fund had been directly authorized by the Cardano Community.
Some community members voted before the election voiced Concerns about funding costs, transparency of how funds will be used and accountability to deliver what has been promised.
You can also read about it here questioned The proposal can be subdivided into smaller budgets with individual votes required for each item.
Related: Hoskinson promises audit, is ‘deeply hurt’ by $600M Cardano treasury claims
Intersect did not endorse a rival proposal by Cardano’s Technical Steering Committee.
Adam Rusch Adam Rusch was a director of Intersect. said On April 28, X posted that it was up to the community to decide what proposal they would support.
Upgrades to other blockchains is also possible
Cardano’s not the only blockchain that is working to upgrade this year.
The Solana Network increased its block capacity by 20% on July 22The maximum limit has been raised to 60,000,000 compute units with the intention of expanding it further before the year’s end.
Ethereum’s gas limit On July 22, the number of people in America was raised to just over 44.92 millions. according Ycharts. Ethereum can process more transactions in a block with a higher gas cap.
Also, Ethereum’s Pectra hard fork went live on May 7The next upgrade, Fusaka, will increase the maximum number of validator stakes and data blobs in each block. Fusaka will be the next major upgrade. scheduled for the end of 2025.
Magazine: Charles Hoskinson, Cardano and Ethereum – for the record
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Source: cointelegraph.com
