The Cardano Foundation has launched a comprehensive governance reform framework to align with the upcoming Chang hard fork. This strategic move marks a transition to a decentralized management structure within the company. The blockchain ecosystem of Cardano aims to distribute decision-making power more equitably among stakeholders. The network itself is known for its scientific development approach and strong focus on security and sustainability, and is preparing for the Chang hard fork, which is expected to be one of its most significant upgrades. This update represents not only technological progress but also a crucial step towards the long-awaited decentralized governance model for the ADA community.
The Cardano Foundation’s transition plan includes introducing a governance model composed of delegates (DReps), stake pool operators (SPOs), and a constitutional committee. This model is designed to ensure comprehensiveness, diversity, and a balance of power, which are crucial for the long-term stability and integrity of the decentralized network.
During the launch phase between Chang #1 and Chang #2 upgrades, management operations will be limited to parameter changes, hard fork initiation, and information operations. This stage is vital for maintaining the network’s stability and security before the governance structure is fully established.
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During this transition phase, the Foundation will become part of the interim Constitutional Committee (ICC). The ICC will have the authority to independently approve changes to protocol parameters and jointly initiate the necessary hard forks with SPOs. The committee will also interpret the Cardano constitution, review governance actions, ensure transparency and fairness, and support the initial governance structure.
In the recent ICC elections, the Foundation used a significant portion of its 200,000 ADA tokens to vote. The purpose of the election was to select candidates who best represent the fundamental principles of the new governance model. Candidates were assessed based on their commitment to the community, adherence to constitutional principles, transparency, and technical expertise in blockchain technology.
The highest-scoring candidates included Cardano’s Atlantic Council, Cardano’s Eastern Council, and individuals such as Lloyd DuHong and Johnny Kelly. This diverse group is expected to effectively represent the various interests within the ecosystem.
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Commitment to Transparency
The Foundation emphasizes the transparency of the entire election process, allowing stakeholders to track voting and fund allocation through platforms like pool.pm. This transparency aligns with a broader commitment to building trust and ensuring that the governance transition is conducted openly and fairly.
Overall, the Chang hard fork is an important milestone for Cardano, reinforcing its commitment to decentralized governance and the principles of inclusivity, diversity, and stability in the blockchain ecosystem.
