Cardano's founder, Charles Hoskinson, is actively promoting ideas of decentralized governance. He recently shared his plans involving the approval of a budget system and a community constitution.
Cardano Transformation: The Latest Steps
Charles Hoskinson revealed that Cardano is close to achieving its final goals: the approval of a budget system and a community constitution. He believes these steps will make the platform unstoppable. 'It’s messy and tough, but it’s the only way to include everyone,' Hoskinson remarked. For him, this is personal: 'I’ll never apologize for being passionate about this outcome. It’s my life’s work.'
Chang Hard Fork and Its Impact on Governance
The Chang Hard Fork, launched on September 1, marks a turning point for Cardano. This major upgrade pushed the blockchain closer to its ultimate goal of a fully decentralized governance system. Key features include the introduction of a constitutional committee, improved voting mechanisms, and the rollout of Plutus v3 with advanced smart contract capabilities. The constitutional committee will temporarily oversee decisions until the constitution is approved, after which governance will transition to ADA holders. Charles sees this as a step toward the Voltaire phase, the final stage of Cardano's roadmap.
ADA Market: Current Fluctuations
Despite governance upgrades, ADA's market performance remains unstable. At press time, ADA trades at $0.934, down 3.26% in the past twenty-four hours. Investor sentiment remains optimistic despite the downturn. The Fear & Greed Index for ADA stands at 74, indicating greed. Over the past month, ADA has seen gains on 67% of trading days, showing some resilience amid market uncertainty. Analysts predict ADA will fluctuate between $0.934 and $1.10 in December.
Cardano continues to aim for full decentralization despite market fluctuations. Charles Hoskinson views this as a long-term strategy to ensure the platform's success.
