Over 1.600 billion ADA, which belongs to Cardano's treasury, will be transferred to the crypto community in the Voltaire era.
Cardano, the tenth largest cryptocurrency in the crypto market, is about to experience a new update that will completely revolutionize its blockchain ecosystem. It is about Chang, an important hard fork that will start the era Voltaire Cardano and, with it, the decentralization of the entire chain.
The implementation of the Chang upgrade and the beginning of the Voltaire era, one of the final stages in the network’s development, is anticipated to take place later this month, according to statements made by Charles Hoskinson, founder of Cardano and CEO of Input Output Global, last week.
hoskinson revealed that developers could implement the Cardano Node v9.0 update this month and that this will open the doors for Chang and Voltaire.
Well, the arrival of Cardano to The new era of Voltaire development means its separation from the Input Output Global company and, once decentralized, its treasury will pass into the hands of the crypto community, which will be the new entity responsible for its management.
Cardano's future in the hands of ADA holders
Voltaire is the fifth era of Cardano development and in this, community involvement is key. The Voltaire era aims to decentralize the Cardano blockchain and ensure the construction of an open, autonomous and sustainable digital ecosystem.
Therefore, once the Voltaire era begins, the power of decision-making and management of treasury resources will be in the hands of the network's user community.
But in addition to decentralizing treasury management, Voltaire will also introduce a voting and improvement proposal system that will give the blockchain ecosystem a new democratic approach. Thus, instead of decisions made by the company, Cardano's future will depend on decisions made jointly and collaboratively by its participants.
Cardano manages over $680 million in treasury
According to data from token tracking platform TapTools, Cardano currently manages the eighth-largest treasury in the crypto industry, with a total of $681,9 million, as of June 13.
According to the Cardano (ADA) price, at the time of writing this article, the network treasury holds approximately 1.680 billion units of native ADA tokens.
Cardano has one of the largest treasuries in the crypto community, and unlike other cryptocurrency projects and blockchain networks, Cardano holds only its native token in reserve, i.e. ADA.
Today, ADA ranks as the tenth cryptocurrency on the market, with a market cap of $14.300 billion at the time of writing. Over the past year, ADA has been quite volatile, rising 70% between January and March, before correcting by nearly 50% to date. The cryptocurrency touched its current all-time high in September 2021, reaching a value of $3,10 per unit.
Although ADA has seen its market value decline considerably in recent years, analysts argue that the scientific blockchain cryptocurrency has enormous growth potential in the future. Even its founder, Hoskinson, has emphasized the Big steps that the development team has achieved in recent months.
In a post earlier this month, Hoskinson argued that Cardano is built on a solid foundation to endure over time and that it is also on the verge of revolutionizing blockchain-based governance systems with the implementation of Chang and Voltaire.
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