Cardano Founder Makes Key Clarification on ADA Governance: Details

Cardano Founder Makes Key Clarification on ADA Governance: Details

Cardano founder Charles Hoskinson recently provided an important clarification regarding the governance actions of the Cardano blockchain.

Cardano founder Charles Hoskinson recently provided an important clarification regarding the governance actions of the Cardano blockchain.

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hoskinson suggested that the full power of the treasury will come into play after the deployment of devolved representatives (dReps), without depending on the establishment of a final constitution. This major milestone is expected to occur approximately 90 days after Cardano’s major upgrade, Chang’s hard fork.

Cardano has been constantly evolving its governance mechanism to ensure a more decentralized and community-driven approach.

In November 2022, CIP-1694 was published, starting a new era for the Cardano network. It describes a governance structure that brings decision-making for the Cardano network onto the chain. It aims to improve the current governance framework so that all ADA holders have a say in the governance of Cardano.

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Three key governing bodies play roles in the chain to ensure safety consent on proposals submitted by the community (also known as governance actions). The three roles played by the community are Delegated Representatives (DReps), Constitutional Committee (CC) and Stake Pool Operators (SPO).

The interim period encompasses both the on-chain technical features and the off-chain actions that take place between Chang’s Initial Update and the on-chain ratification of the constitution. The boot period allows for DRep registrations on the mainnet in preparation for the final governance features implemented in Step 2 of the Chang update.

The intervening period is also designed to provide stability. Each of the new governance roles in the chain (DReps, members of the Constitutional Committee and SPO) will go through their bootstrapping process, allowing them and the community to adapt to the CIP-1694 governance mechanisms.

The Cardano founder reacted to a post by Patrick Tobler, CEO of NMKR, who praised the participation of the ADA community in the election of the Interim Constitutional Committee.

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