- Cardano is currently in a bootstrap stage to establish its decentralized environment and develop governance structures.
- The Chang hard fork will unlock necessary governance measures and bring Cardano to decentralization.
- A Constitutional Convention involving delegates from over 50 countries will be convened to prepare the first constitution of Cardano.
The founder of the Cardano project, Charles Hoskinson, recently explained the current state of development and the plans for further development. In the latest video update, Hoskinson expounded on the bootstrap phase, a crucial developmental phase intended to build Cardano’s decentralized ecosystem.
During this phase, all the measures taken are essential to guarantee that all the governance mechanisms are ready for the complete decentralization of Cardano. From the information provided by Hoskinson, this will be achieved in the next Chang hard fork, which is one of the critical development milestones in Cardano.
Laying the Groundwork for Governance
In the bootstrap phase, Cardano is most concerned with defining its governance system, which requires defining the roles of various parties. These stakeholders include the Constitutional Committee, the stake pool operators (SPOs), and the decentralized representatives (DReps). In a recent episode of Figment, Hoskinson stated that this phase is crucial in setting up Cardano’s governance ahead of its complete action. The Chang hard fork scheduled within the next 90 days is expected to reach its peak during this phase and provide conditions for the functioning of the governance model.
Chang’s hard fork will be crucial in determining Cardano’s path toward decentralization. As Hoskinson stated, this update will enable different governance actions, including protocol parameter updates and starting new hard forks. This is a significant step to help the necessary features run Cardano’s governance system and make decisions independently and democratically.
Towards a Decentralized Future
Cardano’s project’s founder, Hoskinson, has announced plans for a Constitutional Convention involving over 50 countries’ delegates to develop and adopt the first version of the Cardano Constitution. This event is crucial for shaping future platform management and is expected to be transparent and efficient. Cardano’s dedication to a decentralized kingdom is evident in its strategic planning, including the bootstrap phase, Chang hard fork, and Constitutional Convention, which aim to establish a sustainable and decentralized governance system for long-term success.
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