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Cardano Nears Decentralization with Key Upgrades and Community Governance

Cardano Nears Decentralization with Key Upgrades and Community Governance

Charles Hoskinson believes Cardano is on the cusp of revolutionizing blockchain technology, with a vision to lead the way in decentralized governance.

In a recent post, the Cardano founder emphasized his dedication to making the platform more accessible to its users and token holders, stressing the importance of inclusive governance. Hoskinson believes that Cardano is nearing a crucial turning point, with only two remaining steps: a community-approved constitution and the ratification of the budget system. Once these are achieved, he envisions Cardano playing a pivotal role in shaping the future of blockchain governance.

Hoskinson has long been vocal about the need for everyone to have a say in blockchain governance, and his commitment to this cause is evident. He acknowledged the difficulty of Cardano’s development path but remains confident that the network will achieve full decentralization by 2025, positioning it to dominate the blockchain space.


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As part of this vision, Cardano introduced the Chang Hard Fork last September, a two-part upgrade aimed at enhancing both functionality and decentralized governance. The first phase improved network performance, including burning genesis keys and granting voting power to the Constitutional Committee.

With the recent rollout of updates like Plutus v3, Cardano’s contract features have become more robust. The Constitutional Committee’s role, while significant, is temporary, as its duties will be handed over to ADA token holders once the community ratifies the constitution. This upgrade brings Cardano a step closer to its ultimate goal of complete decentralization, where governance will be fully in the hands of the community.

Author
Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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