Cardano Foundation CEO Talks New Era for Cardano as ADA Evolves

By U_Today
about 1 month ago
NEC ADA 2024 FND CEO
Cover image via U.Today

Cardano Foundation CEO Frederik Gregaard has made a profound declaration that resonates with hope and promise: Cardano stands on the verge of a new era in decentralized governance.

In a new tweet, Gregaard highlights the upcoming release of the interim constitution as Cardano advances in its decentralized governance push while also mentioning that the full constitution is on the way.

Cardano stands at the verge of a new era in decentralized governance. The full constitution is on the horizon, but first comes the interim constitution. This is a foundational framework for our ecosystem. 🧵 @Cardano_CF

— Frederik Gregaard (@F_Gregaard) April 18, 2024

The Cardano Constitution is one of the most essential documents in establishing a framework for Cardano's community governance because it sets rules and regulations to be followed.

While this is awaited, the interim constitution would embody the key principles of Cardano governance, such as transparency, openness and responsible decision-making, to ensure that everyone has a voice and that each ADA holder shapes the future.

The interim constitution would also establish guidelines to help all Cardano stakeholders navigate this critical phase of on-chain governance.Cardano governance is based on inclusion, with every ADA holder, developer and participant considered a community member with rights, privileges and responsibilities, as outlined in the interim constitution. Likewise, a fair voting system is vital for genuine ownership.

As Cardano prepares for its major era of decentralized governance, the interim constitution will allow the Cardano community to test the governance model before it is finalized.

With the final constitution being a Cardano Community effort, global workshops and a constitutional convention are scheduled for late 2024, giving ADA holders the right to decide on Cardano's governance future.

Cardano's Chang hard fork

Cardano's first big technological milestone, the Chang hard fork, is set for 2024. This network event will be the first step in establishing a minimum viable community-run government. It will be implemented with the Cardano community's approval, using the consensus method developed with this hard fork.

This marks the start of the Cardano governance model's bootstrapping era, with Delegate Representatives (DReps) expected to play a vital role in this process.

For Cardano governance, there are multiple key community governing bodies, one of which is the DReps, who will act as selected voting representatives on behalf of the Cardano community for various proposals impacting the Cardano blockchain.

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