A popular Cardano ($ADA) influencer has recently explained he that Cardano could become \u201cbigger\u201d than \u201canything seen in crypto before\u201d if decentralized governance on the cryptocurrency\u2019s network works out.<\/p>\n
In a tweet shared with its nearly 110,000 followers on the microblogging platform Twitter, the pseudonymous Cardano influencer known as \u201cADA whale\u201d shared that an argument can be made that Cardano may be more secure and decentralized than other blockchains, but noted that the average user \u201cdoesn\u2019t always get this.\u201d<\/p>\n
Per ADA whale\u2019s words, if decentralized governance under the Voltaire era of Cardano\u2019s development works out, the network \u201cwill be unlike anything seen in crypto before.\u201d<\/p>\n
The Voltaire era of Cardano, according to the project\u2019s roadmap, provides the \u201cfinal pieces required for the Cardano network to become a self-sustaining system.\u201d The era will be marked by the introduction of a voting and a treasury system, which will allow network participants to stake their ADA and use voting right to influence the future development of Cardano.<\/p>\n
According to Cardano\u2019s documentation, for the network to become truly decentralized it will require \u201cnot only the distributed infrastructure introduced during the Shelley era but also the capacity to be maintained and improved over time in a decentralized way.\u201d It adds:<\/p>\n
To that end, the Voltaire era will add the ability for network participants to present Cardano improvement proposals that can be voted on by stakeholders, leveraging the already existing staking and delegation process.<\/p>\n
To fund the future development of the network, Voltaire is set to create a treasury system that will see a fraction of all transaction fees \u201cbe pooled to provide funds for development activities undertaken following the voting process.\u201d<\/p>\n
The document adds that when a voting and treasury system are both in place Cardano will \u201cbe truly decentralized\u201d and no longer under the management of Input Output Global.<\/p>\n
Cardano\u2019s future will be in the hands of the community, who will have everything they need to grow and evolve Cardano from the secure, decentralized basis established by IOHK.<\/p>\n
As CryptoGlobe reported, the total number of wallets on the Cardano blockchain has surpassed the 3.5 million wallet milestone at a time in which the cryptocurrency\u2019s developers are working on its upcoming Vasil hard fork, and support for it keeps growing.<\/p>\n
Similarly, the number of smart contracts deployed on the Cardano network\u00a0has also reached a new milestone above the 3,000 mark for the first time in the cryptocurrency\u2019s history. These developments come as the network moves closer to its Vasil hard fork which is expected to deliver a \u201cmassive\u201d performance improvement to the cryptocurrency\u2019s network, but was\u00a0delayed by \u201ca few more weeks.\u201d<\/p>\n
The Vasil hard fork will involve four Cardano Improvement Proposals (CIPs). Investors have nevertheless been betting on it, with data from Coinbase\u2019s price pages showing that users of the Nasdaq-listed cryptocurrency exchange\u00a0have a typical ADA hold time of over 153 days, meaning that Cardano traders on the platform hold onto their assets for that long before \u201cselling it or sending it to another account or address.\u201d<\/p>\n