Cardano’s Development Team Requests $46.8 Million for Major Upgrades
- Input Output Global has reduced its treasury funding request from $97.5 million to $46.8 million for the upcoming year.
- The funding will support initiatives aimed at scaling Cardano’s transaction capacity from approximately 800,000 monthly transactions to over 27 million.
- The largest allocation focuses on a consensus upgrade named “Leios,” which aims to enhance transaction processing by up to 65 times.
- A new decentralized finance engine called “Pogun” will enable productive use of Bitcoin on the Cardano blockchain, launching in phases throughout the year.
- Significant resources are also dedicated to improving developer tools and optimizing the Plutus programming language for smart contracts.
This funding request marks a strategic shift towards decentralization, allowing third-party firms to take on more development responsibilities within the Cardano ecosystem. The proposed upgrades aim not only to enhance performance but also to tap into the growing Bitcoin market through innovative DeFi solutions.
With a focus on achieving its ambitious “Vision 2030” goals, Cardano plans to significantly increase its transaction throughput while fostering an environment conducive for developers with improved tools and resources.(Source)
