Cardano Network Upgrades: Community Unleashes Massive $71M ADA Boost for Future Innovation
Main Idea
The Cardano community has approved a $71 million ADA treasury fund for network upgrades, focusing on scalability and developer onboarding through projects like Hydra and Project Acropolis, showcasing its decentralized governance model.
Key Points
1. The $71 million ADA funding was approved by 74% of the community (200 out of 213 votes), highlighting Cardano's decentralized decision-making process.
2. Key projects funded include Hydra, a Layer 2 scaling solution aiming for millions of transactions per second (TPS), and Project Acropolis, which focuses on modular development to simplify core upgrades.
3. Hydra will enable off-chain transactions while maintaining security, addressing scalability, while Project Acropolis aims to streamline developer onboarding and network flexibility.
4. Expected upgrades include significantly faster transaction speeds (millions of TPS), near-zero costs for many transactions, and improved developer accessibility.
5. The upgrades aim to enhance Cardano's competitiveness among Layer 1 blockchains and increase the utility of ADA by improving DeFi and dApp performance.
Description
BitcoinWorld Cardano Network Upgrades: Community Unleashes Massive $71M ADA Boost for Future Innovation In the dynamic world of blockchain, community decisions often shape the future of entire ecosystems. Recently, the Cardano community demonstrated its unwavering commitment to progress by approving a significant allocation of 96 million ADA, valued at approximately $71 million, from its treasury. This monumental decision is set to fuel crucial Cardano network upgrades , propelling the platform ...
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