Cardano founder Charles Hoskinson has announced an upcoming summit focused on key governance issues and the future of the ecosystem. It is expected to take place in August at the Rare Evo conference in Las Vegas.
Summit Objectives
Hoskinson described the forthcoming summit as one of the most significant events in the network's eight-year history. He emphasized that the agenda will address key governance challenges, outline a Bitcoin-centric DeFi strategy, and potentially create an executive body to guide Cardano's narrative amid competition in the crypto space.
Technical Achievements of Cardano
The summit will discuss several significant technical upgrades, including Leios, a new version of the Ouroboros protocol, Hydra, a layer-2 scalability solution, and Midnight, a privacy-focused sidechain. These advancements will form the basis for Cardano's efforts to attract Bitcoin liquidity and establish itself as a leading hub in decentralized finance.
New Governance Approach
Hoskinson also pointed out that technology alone is not sufficient for successful development. He emphasized the need for a competent foundation and executive authority to advance this narrative. The summit will discuss updating Cardano's constitution, potentially introducing delegated executive authority, and exploring the creation of a sovereign wealth fund to support long-term growth.
The Las Vegas summit could prove to be a turning point for Cardano. In an increasingly competitive landscape, it is crucial to not only develop new technologies but also establish a cohesive and clear governance strategy that integrates Cardano into the Web3 ecosystem.
