The Cardano development team, Input Output Global (IOG), has received approval for funding of 96 million ADA from the treasury to implement proposed network upgrades.
12-Month Development Plan
IOG submitted a proposal for the equivalent of $71 million, which passed with 74% in favor, representing 200 votes, six against, and seven abstaining. The development will focus on improving scalability, developer experience, and interoperability. Funding will be milestone-based, with Intersect serving as an independent administrator.
Community Concerns over Costs
Despite the approval, the proposal raised questions regarding transparency in fund utilization. Community members expressed concerns about how the funds would be spent and the need for accountability. One member suggested that proposals could be broken down into smaller goals with individual budgets and votes.
Upgrades in Other Blockchains
Cardano isn't the only blockchain working on upgrades. The Solana network increased its block capacity by 20%, while Ethereum has also conducted several enhancements, including raising its gas limit and launching the Pectra hard fork.
Thus, the funding decision marks a significant step for Cardano's development, but existing community concerns highlight the need for transparency and accountability in financial management.
