- The convention concluded with a ratified draft constitution, supported by 95% of delegates, showcasing broad international consensus.
- Hoskinson emphasizes the need for Cardano to transition towards fully decentralized governance by 2025, fostering community engagement.
Charles Hoskinson, founder of Cardano and CEO of Input Output Global (IOG), recently detailed the future governance structure and strategic objectives of Cardano leading up to 2025.
In a detailed livestream, Hoskinson connected the dots between Cardano’s historical governance practices, current institutional challenges, and the objectives for the next few years, with a clear focus on achieving decentralized governance.
During the livestream, Hoskinson started by reviewing the results of the Constitutional Convention, a significant event concluding a two-year global effort to refine Cardano’s governance model. This initiative involved extensive international collaboration, including “hundreds of workshops and thousands of participants from over 50 countries” which ultimately led to a draft constitution that was ratified by 95% of the elected delegates and their alternates.
“These people come from different parts of the world: Africa, South America, Australia, New Zealand, Asia, Europe, and North America—all six continents. We tried to find someone from Antarctica, but we just couldn’t send the short notice.”
Hoskinson pointed out the worldwide scope of the participants involved in this governance overhaul, emphasizing the diversity of the group that spanned six continents. He noted the effort to include as broad a geographic representation as possible, even attempting to reach Antarctica.
Cardano’s Decentralization Goals
Looking forward to 2025, Hoskinson emphasized the importance of transitioning to a fully decentralized governance model for Cardano . He discussed the existing debate within the community, where some advocate for immediate decentralization, while others believe in a more gradual transition, maintaining some controlled institutional involvement during the interim.
“We have some challenges, and those challenges are going to be that we have to fully decentralize the governance of Cardano,” he said.
Hoskinson’s vision involves establishing member-based institutions and integrating on-chain governance to ensure that significant roles within the network are elected and adhere strictly to both algorithmic and constitutional laws. This approach aims to solidify the foundation of a governance system that is not only decentralized but also resilient and legally sound.
Admitting Early Missteps and Celebrating Achievements
Reflecting on the origins of Cardano, Hoskinson admitted to early governance missteps, attributing them to a lack of experience with the complexities of large-scale, decentralized network management.
Despite these early challenges, he celebrated Cardano’s accomplishments , particularly its robust technical foundation, which includes extensive research and development contributions from a large team of scientists and engineers.
“Others feel that there needs to be a longer transition period and there needs to be institutions […] that are not subject to the democratic whims and will of the ecosystem.”
As Cardano approaches 2025 , the focus remains on overcoming governance challenges and enhancing the protocol to support sustainable and decentralized operations. This strategic path underscores Cardano’s commitment to refining its approach to blockchain governance and positioning itself as a leader in blockchain technology’s evolution.
The current price of Cardano (ADA) is $1.102 USD, with a -1.87% decrease over the last 24 hours. Over the month, ADA has shown significant growth of 93.35% and an 85.86% year-to-date increase.
The market is closely watching the upcoming release of 18,530,000 ADA tokens on December 16, representing about 0.05% of the circulating supply, which could impact its price.
