Shelley may be a hot topic nowadays, but Cardano Voltaire is already making waves. Poised to bring governance protocols for the blockchain, Cardano Voltaire has all eyes on it. Initially, the technology employed on the ‘Incentivized Testnet’ of Shelley would be utilized and it would work independently until suitably integrated into Cardano.
Once integrated, Voltaire would give users voting rights for every significant Cardano event ranging from financial decisions to management of developer funds. The developments regarding Cardano Voltaire by the chief executive officer of IOHK, Charles Hoskinson, shed light on the upcoming project.
Cardano Voltaire aims to redefine governance
Cardano team is creating the next generation governance protocols instead of resolving the arduous proof-of-stake protocols. Governance mechanism development is the crucial phase of Cardano blockchain development. So, IOHK is working round the clock on governance protocols concerning Cardano Voltaire and using everything they can from the Shelley ITN.
As per Hoskinson, a governance model is vital for the growth of any network. He says that protocols exist in a diverse environment. So, we have a whole Cardano ecosystem comprising of ledger laws, network regulations, consensuses, and more. All the factors evolve continuously over time giving the entire network an evolutionary characteristic.
So, the question is, who decides all these governance protocols? Speaking in Cardano terms where users are given the highest prominence, the end-user that must exercise all these powers. That’s what the Cardano Voltaire is all about.
Voltaire is a ubiquitous entity for governance
Hoskinson states that Cardano Voltaire isn’t a singular unit but an inclusive phrase for myriad models, features, utilities, and experiments that help the blockchain users make collective decisions regarding governance aspects.
IOHK team agreed upon building the governance protocol atop the Shelley ITN, and brought a range of scientific papers on governance-related solutions. The result could be either a permission-less or permission-friendly chain that can compliment Cardano. An experimental sandbox would pave the way for the final Cardano Voltaire version.