Cardano's core development team has received approval for 96 million ADA from its treasury, amounting to $71 million, to implement proposed upgrades to the network. The plan, which garnered 74% support in a community vote, focuses on enhancing scalability, developer experience, and interoperability. The funding will be milestone-based, with Cardano organization Intersect overseeing payments and ensuring accountability through smart contracts and a dedicated committee. Community concerns centered around costs and transparency were voiced prior to the vote, with some suggesting that the proposal should have been divided into smaller, budgeted segments. Key projects include Hydra, aimed at providing low-cost, fast transactions, and Project Acropolis, which seeks to modularly re-architect Cardano's node for easier onboarding of core developers. Tim Harrison, IOG's vice president, noted this is the first instance of direct community authorization for core development funding. Meanwhile, other blockchains like Solana and Ethereum are also pursuing significant upgrades.

Source 🔗