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Cardano Takes Big Step Forward as Governance Testnet Website Launches

Thu, 08/17/2023 - 13:10
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Tomiwabold Olajide
Cardano advances governance with innovation
Cardano Takes Big Step Forward as Governance Testnet Website Launches
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Cardano founder Charles Hoskinson makes the exciting announcement that the website for the CIP-1694 testnet, SanchoNet, is now live.

CIP-1694, named after the birth year of Voltaire, is the focal point around the start of Cardanoэs Votaire era, which brings on governance. The Cardano Improvement Proposal (CIP) contains specifications and organizational notes about topics related to on-chain governance for Cardano.

In short, CIP-1694 aims to give every Cardano community member a say in the future direction of Cardano.

SanchoNet dubbed the "gateway to Cardano's governance future," introduces the Cardano community to governance features from CIP-1694 in a controlled testnet environment.

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That said, the SanchoNet testnet rolls out groundbreaking governance features for the Cardano blockchain, aligning with comprehensive CIP-1694 specifications. This way, it advances the development and testing of the technical components and processes required for action governance for Cardano within CIP-1694.

The "playground" also informs and engages the Cardano community on Voltaire's on-chain governance activities currently underway.

However, SanchoNet is not an incentivized testnet, and no real ADA is rewarded for participation.

Cardano explorer launches in open beta phase

The Cardano Foundation unveiled the open beta phase of a new Cardano explorer at the start of the week. The beta is the first phase in the development of an explorer that will serve the demands of blockchain-native individuals as well as corporations dealing with blockchain.

Explorers serve as information navigators. In the context of blockchain, this often means monitoring and validating activities relating to native tokens, stake pools and smart contracts, among other things. The explorer, which was built mostly in Java, hopes to attract a large developer community that is more familiar with languages like Java.

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The open beta version includes two essential features: Staking Lifecycle is a revolutionary feature that uses real-time data to create a visual representation of essential blockchain concepts. Compose Report is a tool for creating a downloadable report on the activities of stake addresses or stake pools.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.