Cardano Proposal for $71M Network Upgrades Gains Approval Amid Community Transparency Concerns

Key Points

1. The 96 million ADA funding will enhance network scalability, improve developer experience, and enable seamless interoperability.

2. Payments are milestone-based, released upon delivery of upgrades, with independent oversight by the Cardano member community.

3. Upgrades include Project Hydra for faster transactions and Project Acropolis to simplify developer onboarding.

4. Current average transaction costs are 0.34 ADA with a 20-second block time; upgrades aim to reduce RAM usage and operational costs.

5. The proposal passed with 74% approval despite community concerns about the large funding amount.

6. Other blockchains like Solana and Ethereum are also implementing upgrades, with Solana increasing block capacity by 20% and Ethereum launching the Pectra hard fork.

7. Cardano's upgrades aim to strengthen its competitive position alongside Solana and Ethereum.