An anonymous Cardano (ADA) supporter and the head of the ABLE staking pool, @Hornan7, released his diagrammatic description of how voting would be conducted in Voltaire, the second-largest proof-of-stake (PoS) network’s “endgame” decentralisation period.
Here’s how Cardanians will vote once CIP-1694 is live: Details
The development organisation overseeing the growth of the Cardano (ADA) blockchain, Input Output Global (IOG), published the protocol governance plan that would be put into place with the shift to the Voltaire era. The Cardano Improvement Proposal 1694 (CIP-1694) aims to increase inclusivity in blockchain governance.
Three types of voters are depicted in the “Minimum Viable Governance” design. Representative Delegates’ voting power will be proportional to the amount of ADA staked in their favour. Each member of the Constitutional Committee will have one vote.
The voting power of staking pool operators (SPOs) will be proportionate to their position in the Cardano (ADA) staking mechanism. Regardless of the size of their portfolio, prior expertise, etc., any ADA holder may submit the initial version of the new CIP.
The votes of each category must then be analysed in accordance with particular threshold criteria. Voting thresholds are stated as ratios that take into consideration “absent” voices and compare the number of “yes” votes to the total quantity of active voting stake.
The explanation states that the threshold must be met by each of the three voting categories for all action kinds.
Toward final phase of Cardano (ADA) decentralization: What is Voltaire?
But each of the three groups has its own “jurisdictions.” For instance, only DReps, or delegate representatives, have the ability to vote on all necessary blockchain update operations. Except for resolutions of no-confidence and new quorums, all referendums are decided by the members of the Constitutional Committee.
SPOs vote exclusively on the two aforementioned referendum kinds and hardfork propositions. Each CIP will have a certain deadline; if the required percentage of “yes” votes is not obtained before the cutoff, the referendum is cancelled.
As previously reported by U.Today, Cardano’s Voltaire represents the culmination of its decentralisation. The maximum number of votes in Voltaire shall be divided among ADA holders. According to some observers, this phase might start as early as next year.
