- Cardano is moving towards its final stage, Voltaire, with full steam.
- Cardano has released a testnet that allows users to experience the Voltaire era firsthand.
- SanchoNet allows users to test the features outlined in CIP-1694 before it is set in stone.
Cardano is rapidly advancing toward its final development stage, Voltaire, which is poised to evolve the Proof-of-Stake chain into a community-driven government. The success of the upcoming update hinges on how the CIP-1694 vote goes.
CIP-1694 is a pivotal proposal that could make Cardano the first decentralized blockchain protocol. It holds paramount significance for the network. So, to bolster its case for the Voltaire era and upcoming proposal vote, Cardano looks to set a precedent for what it could become once it’s truly decentralized with SanchoNet, a testnet that showcases exactly that.
What is SanchoNet?
Dubbed the gateway to Cardano’s governance future, SanchoNet is a playground for experimenting with features outlined in CIP-1694. As a testnet, it enables community members to gain firsthand experience of the network’s governance mechanisms, providing a glimpse into the Voltaire era.
Currently, in Phase 1, SanchoNet allows users to engage in various governance actions, including submitting new constitution governance proposals, participating in Stake Pool Operator (SPO) votes, and more. Members can test any one of the following governance actions and help the developers in refining the respective mechanisms:
- A motion of no-confidence
- New constitutional committee and quorum
- Updates to the constitution
- Protocol parameter
SanchoNet encourages participants to take on different roles within the network, such as test ADA-holders, Stake Pool Operators (SPO), or Delegate representatives (DReps), and contribute to the chain in their respective roles.
How to Join SanchoNet?
Cardano and SanchoNet offer comprehensive tutorials that help users in joining the testnet. To start, users need to get a set of configuration files and run the node, both available on the official documentation page. Instructions for creating keys, addresses, stake pools, submitting governance actions, voting, and even faucets, are available.
It’s worth noting that for users to access and contribute to the network, they are required to mint TestAda from the official website by providing their address and API key. Once they have received the funds from SanchoNet, they can test the governance features and experiment with the network.
On the Flipside
- Wanchain recently released a solution that allows users to connect Cardano with any EVM-based network.
- Charles Hoskinson believes that by the summer of 2023, once CIP-1694 is complete, Cardano could surpass Bitcoin, Ethereum, and every other cryptocurrency in decentralization.
- Cardano Foundation recently tested its on-chain voting mechanism and proposed to change two of the most critical parameters in the network’s ecosystem.
Why This Matters
As Cardano moves closer to realizing the Voltaire era and its decentralized governance model, SanchoNet is a tangible step towards a community-driven future for the network.
More on Voltaire:
Cardano and the SEC Problem: How CIP-1694 Could Provide Solutions
More on Cardano:
“Cardano is Here to Stay,” Lauds Founder as ADA Plummets