Cardano Blockchain: A New Era with Its First Official Constitution
The Cardano blockchain has reached a significant milestone by establishing its first official constitution. With an impressive 85% approval rate, this decision marks the end of Cardano’s interim governance framework, setting a new course for the ecosystem’s future development.
The Landmark Decision: A New Chapter for Cardano
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On February 18, Cardano’s founder, Charles Hoskinson, made a historic announcement during a livestream, unveiling the voting results through real-time data from Cardano’s governance tools. Hoskinson proudly stated, “The Cardano Constitution replaced the interim Constitution 85% [Yes] to 6.62% [No], with 7.68% abstaining from the vote.” He further explained that the constitutional committee required a 67% threshold, which was unanimously met by all seven members.
The final vote not only surpassed the required 75% approval but did so with a significant margin. Hoskinson emphasized the importance of such a decisive agreement, noting the extensive level of consensus required to achieve a 75% approval rate. “We achieved this not just here but globally, involving individuals from diverse backgrounds who connected through this process,” he remarked.
Community Involvement and the Path to Ratification
Hoskinson highlighted the extensive community involvement in drafting and discussing the constitution, citing over 65 workshops, participation from 1,800 individuals, and a dedicated constitutional convention. While the vote is now finalized, he mentioned that the constitution would be formally “locked in” at the next epoch change, a process that typically takes a few days to complete. The constitution is expected to officially take effect around Thursday, concluding a two-year journey and transitioning from an interim governance model.
“It was a long and arduous process involving a multitude of people, but it was an extraordinary journey,” Hoskinson commented. “More than 65 workshops, 1,800 participants, a constitutional convention, and countless debates. But we succeeded.”
A Decentralized Governance Framework
With the ratification, Cardano now boasts a governance layer that Hoskinson describes as “fully decentralized,” akin to Bitcoin’s decentralization but with a structured mechanism for future updates. A crucial feature is the influence of Cardano’s treasury, which holds 1.5 billion ADA. Community representatives can allocate these funds through on-chain governance votes.
The system also incorporates a Constitutional Committee that unanimously voted for the measure. However, these initial committee members will eventually be replaced via a broader, fully decentralized election process later in the year, as current terms expire in September.
Looking Ahead: The Future of Cardano Governance
Hoskinson outlined the upcoming tasks, stating, “We have more steps ahead, such as ratifying the product roadmap and budget.” He added that the interim Constitutional Committee members will soon be replaced, symbolizing Cardano’s evolution into a self-sustaining governance model.
He emphasized that the new constitution is designed to be dynamic, allowing for updates over time. “This development is a proof of concept that we can replicate. Cardano is a living entity, a vibrant ecosystem,” he explained.
He urged community members to stay engaged, highlighting ongoing discussions about potential improvements to voting mechanisms, such as introducing quadratic voting or expanding delegate structures, and exploring compensation for key contributors.
Cardano at the Forefront of Decentralized Governance
Beyond the immediate celebration, Hoskinson underscored Cardano’s position at the forefront of decentralized governance. “We now have the largest governance layer, making us the most sophisticated cryptocurrency ecosystem. We can crowdsource any idea or strategy and converge on a unified understanding,” he asserted.
In contrast to other cryptocurrencies, which often face slow or contentious upgrades due to decentralized structures lacking formal voting systems, Cardano’s new constitution strikes a balance, enabling rapid evolution while maintaining full decentralization.
Next Steps for the Cardano Community
The ratified constitution sets the stage for additional governance votes. In the near future, the Cardano community will focus on ratifying the product roadmap and budget allocations. With the constitutional foundation established, stakeholders anticipate smoother, more coordinated decision-making on technical upgrades, such as enhanced throughput, advanced tooling for decentralized applications, and new features supporting interoperability.
Hoskinson concluded his livestream by reflecting on the broader impact of this milestone: “Thank you all for contributing to this momentous occasion. Cardano now has a constitution, a governance model. Every ADA holder has a voice, and because of that, Cardano stands as the global standard.”
At the time of writing, ADA is trading at $0.74.
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