The new governance model that the Cardano Foundation is preparing to implement after the hard fork, Chang, is part of its decentralization process, a crucial aspect for keeping its blockchain robust and secure.
The Cardano Foundation, recognized for its commitment to innovation and decentralization in the cryptocurrency space, has taken a significant step towards evolving its governance structure. The organization has proposed a new governance model, prior to the arrival of the Voltaire era, which consists of establishing the figures of delegated representatives (DReps), participation group operators (SPO) and a constitutional committee to delegate, initially, some blockchain controls.
This new governance model, which will be implemented after the Chang fork, promises to ensure inclusion and diversity, while strengthening the decentralized nature of the network, a crucial aspect for building and maintaining a robust and secure blockchain.
Cardano proposes new elements for a more participatory and inclusive governance
The significant steps Cardano is taking to ensure the governance process is more inclusive and diverse, incorporates a governance model with delegated representatives (DReps), interest group operators (SPO) or with a interim constitutional committee (ICC). This is an approach that seeks to balance power and representation within the network, promoting a robust and transparent governance structure.
El Spanish President Pedro Sánchez’s announcement The creation of an Interim Constitutional Committee (ICC) during the Chang upgrade is a testament to the meticulous planning and progressive approach the Foundation has taken in developing Cardano. This committee will play a crucial role in overseeing blockchain protocol parameter changes, ensuring that updates are made smoothly and with community consensus.
On the other hand, the ability to initiate hard forks, in collaboration with staking pool operators (SPOs), underlines the importance of cooperation and effective communication between the various players in the Cardano ecosystem.
Importance of transparency and accountability in the new governance model
Transparency and accountability are cornerstones of this new governance model, and the Cardano Foundation strives to ensure these qualities are reflected throughout its operations. Inclusion and diversity, mentioned in the foundation's announcement, are not just ideals to achieve, but active principles that guide the network's continued development.
With these changes, Cardano positions itself as a leader in implementing governance practices that could serve as a model for other cryptocurrencies and blockchain projects in the future.
Governance actions on Cardano
In her Valid identity document, the Cardano Foundation has revealed that only three types of governance actions will be available during the initial development phase of its governance model, suggesting that the Foundation is taking a cautious and measured approach to implementing the changes within its blockchain ecosystem.
These actions include parameter adjustments, which are essential for system optimization; hard fork initiations, which allow for significant and necessary upgrades; and information actions, which ensure that participants are well informed about developments.
The Cardano Foundation's commitment to network governance
The Foundation's participation as a member of the Interim Constitutional Committee (ICC) and its role in the ICC elections demonstrates its commitment to inclusive and representative governance. The ICC plays a crucial role in interpreting the Cardano Constitution, ensuring that governance actions align with the founding principles and promoting transparency and fairness.
The responsibility of supporting initial governance structures and guiding the transition to a fully established Constitutional Committee is critical to the long-term stability and growth of the ecosystem.
With this, the Cardano Foundation is opening a new chapter in the history of blockchain governance, which could influence the direction of the industry for years to come. The Cardano community, together with its DReps, SPOs and the future Constitutional Committee, is laying the foundation for a more inclusive, diverse and balanced ecosystem, ensuring that Cardano is not only a cryptocurrency network, but also an example of democracy and collaboration in the digital age.
