The core development team of Cardano has been approved for 96 million ADA paid from the treasury to advance the network upgrade plan.
The main development team of Cardano, Input Output Global (IOG), proposed an equivalent of $71 million in Cardano (ADA) and passed the vote with a 74% approval rate. This plan focuses on enhancing scalability, developer experience, and interoperability.
However, the proposal has raised community concerns regarding costs and transparency.
The upgrades include faster transactions and better user guidance.
Funding will be allocated based on milestones, managed independently by Cardano member organization Intersect. Funds will be unlocked upon completion of the upgrades, with oversight from a dedicated committee.
IOG also committed to providing monthly updates, engineering timelines, and quarterly budget details.
Key projects include the Hydra protocol and the Acropolis project to achieve faster, low-cost transactions and modular nodes.
Additionally, IOG seeks to lower RAM usage and reduce operational costs through performance optimizations, laying the groundwork for more advanced smart contracts and seamless interoperability.
The Cardano community raised concerns about costs and transparency.
Tim Harrison, IOG's Vice President of Community and Ecosystem, stated that this is the first time the community has directly authorized core development funding for Cardano.
However, before voting, community members raised concerns about funding costs, transparency, and accountability, with some suggesting to break the proposal into smaller goals for separate voting.
Other blockchains are also undergoing upgrades.
Not only is Cardano undergoing upgrades, but blockchains like Solana and Ethereum have also implemented significant improvements this year.
