Input Output Global (IOG), Cardano’s core development team, has secured 96 million ADA (equivalent to $71 million) from the blockchain’s treasury to finance a major network upgrade.
The funding will accelerate critical enhancements to Cardano’s infrastructure, focusing on three core areas: scalability improvements, heightened security protocols, and overall blockchain efficiency gains. These upgrades aim to bolster the network’s capacity and developer experience.
As part of this initiative, IOG will develop and release enhanced software development kits (SDKs) and application programming interfaces (APIs). These tools are designed to simplify decentralized application (dApp) creation for developers building within the Cardano ecosystem.
This allocation exemplifies Cardano’s decentralized treasury governance model, where ADA holders vote on funding proposals. The community-driven approval process ensures transparency and alignment with the network’s strategic objectives.
The impending upgrade is expected to significantly boost network performance for end-users while strengthening security measures. Furthermore, it aims to support the expansion of Cardano’s decentralized finance (DeFi) solutions, solidifying its position in the blockchain landscape.
This substantial funding commitment represents a pivotal advancement in Cardano’s roadmap, underscoring its dedication to fostering sustained growth through decentralized innovation.