Cardano Prepares for Decisive Vote: CIP-1694 Improvement Proposal in Focus

Input Output, Cardano’s (ADA) main engineering arm, brought important updates on blockchain progress between November 13th and 17th. During this period, the focus was on the areas of governance, services and core technology of the project, with special attention to the Mithril and Lace initiatives.

Mithril, launched on mainnet in July, has been a key piece in Cardano’s scaling strategy. On the other hand, Lace, a multifunctional Cardano wallet, stands out for facilitating interactions with different blockchains. The recently released version 1.7 of Lace introduces significant multitasking capabilities, improving the user experience.

In parallel, the Mithril team advanced its goal of decentralizing Mithril networks, successfully implementing a peer-to-peer (P2P) network model in its tests. “They have made progress in decentralizing Mithril networks with proof-of-concept peer-to-peer (P2P) networks, achieving the implementation of P2P signatures transmitted with the relay in end-to-end tests,” highlighted Input Output.

In addition to Lace and Mithril, the Voltaire team, dedicated to decentralized governance and unity of the Cardano community, is preparing for a significant event. In the near future, Voltaire will organize a vote on CIP-1694 (Cardano Improvement Proposal), a formal proposal that seeks to introduce a constitutional committee for greater participation of ADA holders and efficient monitoring of the network.

Charles Hoskinson, founder of Cardano, highlighted the potential benefits of CIP-1694, stating: “We are trying to develop an open source platform for temperature checks and governance in general.” According to him, the proposal would not only collect valuable feedback from the community, but also speed up voting processes.

Cardano Ballot and CIP 1694 https://t.co/zV6RGDKLSR

— Charles Hoskinson (@IOHK_Charles) November 16, 2023

Voting for CIP-1694 is scheduled to take place between December 1st and 11th, with an important detail: only voters who have delegated their ADA to a betting group by November 20th will be able to participate.

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