The CEO of Cardano Foundation, Frederik Gregaard, has made an inspiring statement indicating that Cardano is about to enter a fresh chapter in decentralized management: A time of great anticipation and potential for Cardano lies ahead.
In his latest tweet, Gregaard announces the approaching unveiling of an intermediate constitution for Cardano, marking a step forward in its pursuit of decentralized rule. He adds that the final constitution will follow soon after.
Cardano is about to enter a new stage of decentralized governance. The final constitution is nearly ready, but before that, an interim constitution will be implemented as a foundational framework for our system. #Cardano_CF)
— Frederik Gregaard (@F_Gregaard) April 18, 2024
The Cardano Constitution plays a crucial role in shaping the decision-making processes within the Cardano community by laying down the necessary guidelines and laws.
During this period of anticipation, the temporary constitution for Cardano will incorporate fundamental governance tenets. These include transparency, accessibility, and prudent judgment-making. This structure aims to empower every stakeholder and enable each ADA holder in shaping the platform’s future.
During this significant stage of Cardano’s on-chain governance, the interim constitution will provide essential guidelines for all stakeholders to follow. This includes ADA holders, developers, and other community members, who, as outlined in the interim constitution, are equal participants with rights, privileges, and duties. A just voting mechanism is crucial to ensure authentic ownership.
During the approaching stage of decentralized rule for Cardano, an interim constitution serves as a trial run for the community to experiment with and refine the proposed governance system before its official implementation.
In late 2024, there will be global workshops and a constitutional convention for the creation of Cardano’s final constitution, which is a collaborative project among the Cardano community. ADA holders will have the opportunity to participate in this process and vote on the direction of Cardano’s governance.
Cardano’s Chang hard fork
In simple terms, the initial significant technological achievement for Cardano, referred to as the Chang hard fork, is scheduled for 2024. This event marks the beginning of establishing a self-governing community, which will be achieved through the approval of Cardano’s community. The implementation of this community-driven governance system will be facilitated using the consensus method introduced during this hard fork.
The Cardano governance model is beginning its initial phase, called the bootstrapping era. During this time, Delegate Representatives (DReps) will take on significant responsibilities and contribute greatly to this development.
The DReps are a group of community representatives chosen by Cardano governance to cast votes on their behalf in relation to proposals affecting the Cardano blockchain.
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2024-04-18 17:52