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Cardano releases a major update on Voltaire era, will ADA make the most of it?

Press Releases Crypto News AMB-Crypto Cardano releases a major update on Voltaire era, will ADA make the most of it?

In the derivatives market, sentiment for ADA started to turn bullish.
Despite working on advancements, Cardano’s development activity stagnated.

Cardano [ADA] picked up pace over the last week, posting gains of 4.89% at the time of writing, per CoinMarketCap data. The coin was the fourth-largest crypto (excluding stablecoins) in the sector with a market cap in excess of $14 billion.

Read Cardano’s [ADA] Price Prediction 2023-24

However, a concerning factor was Cardano’s stagnant development activity. As per data from Santiment, the metric exhibited a flat line since 19 April. Development activity is an important indicator to evaluate the prospects of a blockchain, with low values implying that upcoming upgrades could be delayed.

Source: Santiment

Transition to Voltaire era

Cardano published the latest edition of its weekly development report on 28 April, highlighting key technological advancements.

One of the most important updates was regarding progress made on CIP-1694 and the Conway ledger era development. These included incorporation of Plutus v3 support into the Conway ledger, modifications made to delegation certificates and adding governance ledger states.

A change to Cardano’s on-chain governance system is proposed in CIP 1694, which has Voltaire’s birth year as its name. With the Voltaire era, Cardano intends to fully establish itself as a decentralized autonomous organization (DAO).

After CIP- 1694, any Cardano user will be able to submit a governance action which will be ratified by three groups – a Constitutional Committee, a group of delegation representatives (DReps), and stake pool operators (SPOs), thus giving the community a final say in Cardano’s functioning.

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Author: Suzuki Shillsalot

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