Last updated on September 9th, 2024 at 06:38 am
Cardano has started an extensive decentralization process that reached another critical step, with the last centralized Shelley relays owned by IOG no longer being centralized. This change remains part of the Cardano Improvement Proposal CIP-1694, which marks the beginning of the Voltaire phase, emphasizing the Cardano community’s governance. This change transfers power from the core sellers, Input-Output Global (IOG), the Cardano Foundation, and Emurgo to the entire Cardano ecosystem.
Also Read: Chainlink and Cardano Rank Among Top 5 Most Actively Developed Cryptocurrencies
Cardano’s Switch of Governance and Technical Enhancements
In a recent post, Cardano community member Samuel Leathers shared some progress in the ecosystem’s development to mark P2P functionalities complete and prepare for the next steps. This shutdown also means the ending of one era, but it will also herald the next wave of network improvements under the Genesis upgrade that will eliminate bootstrap peers through a non-hard fork solution.
Charles Hoskinson, the founder of Cardano, also spoke about the progress and mentioned that bootstrap peers will gradually be eliminated in the next few months. The process for decentralizing the network indicates Cardano’s commitment to do away with centralized control and empower the network users.
Advertisement
This strategic action to close such relays complies with Cardano’s plan for decentralization completion as planned. Removing the centers elucidated above, Cardano is working to enhance the overall solidity of the working network and boost its community power. This also improves security while simultaneously being in tandem with the blockchain principles of offering a more open platform to users.
In addition, it has also been envisaged that the role of the community in the governance structures will be enhanced enormously. Passing over the control to the Cardano community, many expect the network’s developments and decision-making processes to become more apparent and community-based. This significant shift since it opens up the community’s diversity to have an input on the direction of the Cardano blockchain.
Conclusion
These advancements make Cardano an exciting project to follow as it continues to grow, attracting attention from community members and cryptocurrency enthusiasts worldwide. The adoption of the Voltaire phase reflects a more mature approach to blockchain governance and sets a precedent for future decentralization projects in the cryptocurrency space.
Also Read: Cardano to Hand Over $681.9 Million Treasury Control to Community
Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. I write extensively on topics such as blockchain, cryptocurrency, tokens, and more for many publications. My goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.