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Cardano has just taken this key step towards upgrading its network

- The Cardano community has approved a $ 70 million grant to Input Output Engineering (IOE) to fund major network upgrades.

The money will be disbursed in phases, focused on key milestones, and overseen by an independent oversight committee to ensure transparency.

At the same time, other projects in the ecosystem, such as Snek, are also seeking funding, sparking debate over how to allocate the treasury's resources.

The #Cardano community has backed a major development proposal by allocating over 96 million #ADA - about $ 70 million - to Input Output Engineering (IOE), the team developing the #blockchain network.

The decision, announced on August 2, was the result of a community vote in which nearly 74% supported the funding request.

According to the company, the funding will be used to implement the IOE protocol roadmap to improve scalability, developer tools and cross-chain capabilities.

Among the planned initiatives are updates to Ouroboros Leios, Hydra for scalability, improvements to Mithril, Nested Transactions and Project Acropolis.

Collectively, these efforts are aimed at making Cardano more responsive, efficient and accessible to both users and developers.

Ricky Rand, CEO of IOE, called the approval a vote of confidence in Cardano's long-term potential.

However, he acknowledged that it is a real challenge to ensure the planned upgrades are done with integrity, transparency and in line with the community's goals.

This is a vote of confidence in Cardano's future - and an example of how decentralized funding and delivery can work at scale. The real work starts now - providing honest services, transparent reporting, building with and for the community, Rand said.

  transscreen.ru/en/news23949