The future of Cardano looks promising
Charles Hoskinson can sometimes tend to exaggerate.
Charles Hoskinson can sometimes exaggerate. Still, there could be a kernel of truth to his claim that Cardano is ready to take over the world in 2025. Preparations for a promising year appear to be in place, at least. With the shift to the final phase, Voltaire, Cardano has almost completed its roadmap and handed the project's future to its token holders. But the project is far from over.
"Crucial phase for Cardano"
Since September, Cardano has been in the fifth and final development phase. In this phase, the network gained a governance framework that enables on-chain votes on network development and project funding through a jointly managed treasury by token holders. This brings the project closer to its goal of making Cardano "a self-sustaining, community-governed ecosystem." This phase is "crucial for Cardano." The project is transitioning "from traditional, centralized control to an innovative, community-driven governance model." Ultimately, this should lead to a "transparent and democratic ecosystem."
Since Voltaire, token holders can participate in on-chain votes on "protocol changes and funding decisions," allowing them to exert direct influence over the blockchain. With the second Voltaire update, "Plonim," expected in early January, the final governance features will be unlocked. A constitution anchoring the governance rules is also expected to be formally adopted early next year.
Much remains to be done
The roadmap started with the five-phase plan may have been a touch optimistic. There are still major projects on the slate. Cardano software developer Input Output recently outlined their plan through 2030. By then, nine development points—primarily focused on scaling and interoperability—are to be delivered.
Among them are improvements to the Cardano protocol Ouroboros, more powerful smart contracts, and ZK-technology integrations. The Hydra scaling solution will be expanded, bridges will be extended to connect with other blockchain ecosystems, and governance will continue to be optimized. The protocol should also be hardened against quantum attacks.
There’s no shortage of tasks. Even though the Cardano community agrees that Voltaire marks the achievement of one of the most ambitious project goals, Cardano founder Charles Hoskinson says this has given the trajectory a new lift. Hoskinson believes Cardano can’t be stopped and will grow to conquer the world.
