¿Qué es Project Catalyst? – Funintec Venezuela

Before delving into what Project Catalyst is, we must learn a bit about «Blockchain».

What is Blockchain?

Blockchain is a distributed ledger technology that allows for secure and transparent data storage on a decentralized network of computers. Each piece of data is grouped into chronologically linked blocks and secured through cryptography. This ensures the integrity, security, and transparency of transactions without the need for a central authority. Now that you have a basic understanding of Blockchain, we can delve into how it relates to Project Catalyst on the Cardano network.

What is Project Catalyst?

Project Catalyst is an initiative within the Cardano ecosystem that aims to decentralize decision-making and enable the community to actively participate in the direction and development of the protocol. Here's a more detailed description:

Community Participation: Project Catalyst allows anyone interested to participate in the decision-making process. This includes developers, users, investors, and any other member of the Cardano community.
Proposals and Voting: Participants can propose ideas and projects to improve the Cardano network. These proposals can range from technical improvements to marketing or education initiatives. Subsequently, the community votes to determine which proposals will receive funding.
Decentralized Funding: One of the highlights of Project Catalyst is its decentralized funding model. Instead of relying on a centralized entity to distribute funds, resources are allocated based on the outcomes of community voting.
Treasury Funds: Funding for projects comes from the treasury of Cardano. This treasury is composed of a portion of the transaction fees generated on the network. Selected projects receive funding directly from the treasury, eliminating the need to seek external investors.
Stages of the Process: Project Catalyst follows a funding cycle consisting of several stages, including proposal submission, community review, voting, and implementation of selected projects. This process repeats periodically to ensure continuous evolution and improvement of the network.

In summary, Project Catalyst is a platform that enables the Cardano community to actively participate in the evolution and development of the protocol, using a decentralized and transparent approach to decision-making and allocation of financial resources.