Friday, September 25, 2020
No menu items!
  • News
  • Cryptocurrency
  • Contact Us
More

    Cardano’s IOHK Distributes $250,000 Worth of ADA to Project Catalyst

    Must Read

    XRP Ledger Foundation Officially Launched

    According to a latest information, XRP Ledger Foundation has been launched officially. This update was shared via the official Twitter...

    Chainlink (LINK) Now Available To Users in Over 2.2M Hotels and Homes

    In a tweet shared on 23rd September 2020, Travala.com, a crypto-friendly traveling booking service, informed the cryptocurrency community about...

    Ethereum 2.0: User Outlines Why He Would Not Stake ETH at Launch, Danny Ryan Weighs In

    There have been concerns over the risks of staking the digital token ETH on Ethereum 2.0 at launch. In...
    Avatar
    Solomon Odunayo
    Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.




    IOHK, the firm behind the development of Cardano (ADA) has announced that it has distributed $250,000 worth of ADA to Project Catalyst.

    These funds will be allocated to several Cardano-based projects proposed by the community. Project Catalyst is one of the important paths to the Voltaire era of Cardano, which is expected to bring decentralized governance into the ecosystem.

    Project Catalyst Expected To Control $70 Million Worth of ADA

    Going by a report made available by the tech firm IOHK, Project Catalyst is expected to control $70 million worth of ADA in the future.

    The creator of Cardano (ADA), Charles Hoskinson is a prominent advocate of decentralized treasuries, a system he sees as one of the greatest innovations of our era.

    The innovation that brought about decentralized treasuries is targeted at realizing the independence of developers from founders and executives of a particular project and providing reliable funding for their work.

    Purpose of Decentralized Governance

    With decentralized governance, the community has the ability to propose development projects, followed by the decision on which ones are supposed to be funded.

    Crypto projects such as Tezos (XTZ), Zcash (ZEC), and Decred (DRC) have already implemented the innovation.

    Also, Hoskinson has earlier suggested that a decentralized treasury is capable of providing a feasible solution for Ethereum Classic that was hit with 51% attacks a couple of days ago.

    Test Stage of Project Catalyst Welcomed Several Project Proposals

    There were various project proposals during the test stage of Project Catalyst. The list included projects that serve as an encouragement to bring women into blockchain ecosystem.

    Based on the development roadmap of the project, the Voltaire era is expected to start by the end of 2020, as the Project Catalyst serves as a building block of this upcoming development.

    Join us on Twitter

    Join us on Telegram

    Join us on Facebook




    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest News

    XRP Ledger Foundation Officially Launched

    According to a latest information, XRP Ledger Foundation has been launched officially. This update was shared via the official Twitter...

    Chainlink (LINK) Now Available To Users in Over 2.2M Hotels and Homes

    In a tweet shared on 23rd September 2020, Travala.com, a crypto-friendly traveling booking service, informed the cryptocurrency community about the integration of Chainlink (LINK)...

    Ethereum 2.0: User Outlines Why He Would Not Stake ETH at Launch, Danny Ryan Weighs In

    There have been concerns over the risks of staking the digital token ETH on Ethereum 2.0 at launch. In this regard, a supposed Ethereum...

    New Version of VeChain Thor Released with a Major Improvement

    As a report has it, v1.3.6, the updated version of the popular software in the VeChain ecosystem, VeChain Thor, has been released with a...

    Venture Capitalist Tim Draper Reveals He Holds Bitcoin (BTC), Ripple XRP, Tezos (XTZ)

    Venture capitalist and Bitcoin optimist, Tim Draper, who is the founder of Draper University, has recently revealed his cryptocurrency portfolio, which includes Bitcoin (BTC),...

    More Articles Like This