Cardano Foundation CEO Inaugurates New Phase of Decentralized Governance

Frederik Gregard, CEO of the Cardano Foundation, recently announced an important milestone for the currency: the introduction of decentralized governance. Gregard, recognized for his influence in the Cardano community, shared his enthusiasm during a meeting with community members, highlighting the importance of the interim constitution being prepared. “This interim constitution is a key milestone on our path to complete decentralization of governance within Cardano,” he said.

This new constitution aims to establish the foundations of an inclusive community governance system, ensuring that every ADA coin holder has the opportunity to contribute to decisions. “Every ADA owner, whether developer or individual participant, has rights and duties that must be respected and honored collectively,” Gregard emphasized.

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

Essentially, the interim constitution reflects the principles of transparency and openness, creating a decision-making process that includes the entire community as it grows. The document is in the final stages of preparation and will be formalized during the Constitutional Convention next year, after a series of global workshops.

Regarding Cardano’s technical update, the Chang Hard Fork, Gregard explained that this change will introduce a governance model where Delegated Representatives (DReps) will play a crucial role. The Chang Hard Fork will implement a governance structure in which DReps will have a say in decisions that directly affect the ADA blockchain,” he stated.

Cardano’s commitment to innovation and continuous improvement of its infrastructure is reflected in these changes, aiming to align blockchain technology with the needs of its expanding community.

At the time of publication, the price of ADA was quoted at US$0.4579 with an increase of 2.5% in the last 24 hours.

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