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Charles Hoskinson Calls Cardano (ADA) the Global Standard. Here’s why

Charles Hoskinson Calls Cardano (ADA) the Global Standard. Here’s why

TimestabloidTimestabloid2023/07/14 16:00
By:By Zaccheaus Ogunjobi

In a defining moment for blockchain governance, Cardano (ADA) has officially transitioned into a fully decentralized ecosystem with the ratification of its first Cardano Constitution. This milestone, endorsed by an overwhelming majority of 85% of voters, establishes a governance framework that empowers every ADA holder with a voice, reinforcing Cardano’s position as a global leader in decentralized finance and blockchain innovation.

Charles Hoskinson Declares Cardano the “Global Standard”

In a video clip posted by Angry Crypto Show on X, Cardano founder Charles Hoskinson expressed his confidence in the platform’s dominance, stating: “Our advantage and lead is so significant, they can never catch us. Thank you all for this moment. Cardano has a constitution, and a government, every ADA holder now has a voice. Because of that, Cardano is the global standard.” 

These bold words underscore the historic significance of this transition, marking a new chapter in decentralized governance. The ratification of the constitution, after years of collaborative effort, means ADA holders now have a direct role in shaping the blockchain’s future—a groundbreaking shift toward community-driven decision-making.

A Constitution for the People, By the People

The Cardano Constitution is the result of extensive global community involvement, with over 65 workshops and 1,800 participants across 50 countries. This document provides a structured framework for decentralized decision-making, ensuring that no single entity can dictate the platform’s direction. 

With the ratification, every ADA holder is granted a say in governance, reinforcing the principle of collective ownership. The voting outcome reflected overwhelming support, with 85% in favor, only 6.62% opposed, and 7.68% abstaining. This landslide approval signifies the community’s strong commitment to a decentralized and self-sustaining ecosystem.

The Role of the Constitutional Committee

A Constitutional Committee has been established to oversee governance actions, ensuring they align with the principles enshrined in the Constitution. This body functions as a safeguard against centralization, maintaining transparency and accountability. It operates under a well-structured system of checks and balances, guaranteeing that all governance proposals adhere to the fundamental principles of decentralization. 

In the event of a “no confidence” vote, the committee is obligated to dissolve and undergo re-election, ensuring that power remains firmly in the hands of the community. By implementing this model, Cardano has created one of the most advanced governance frameworks in the blockchain space, setting a precedent for other decentralized networks.

A Living Document: Adaptability and Future Evolution

Unlike rigid governance structures, the Cardano Constitution is designed as a living document, allowing it to evolve alongside the blockchain ecosystem. Hoskinson himself emphasized the significance of this adaptability, stating: “Cardano is a living organism; it’s a living ecosystem—a vibrant one.” 

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This approach ensures that as blockchain technology advances, Cardano’s governance remains dynamic and responsive to emerging challenges and opportunities. The community retains the power to propose amendments and refine the governance model, fostering continuous improvement while maintaining the integrity of decentralized decision-making.

What’s Next for Cardano?

With the constitution now in place, the next phase of Cardano’s governance roadmap will focus on the ratification of the product roadmap and budget allocations, both of which will shape the platform’s development trajectory.

Additionally, the interim Constitutional Committee, which played a crucial role in the ratification process, will be replaced through democratic elections as their terms expire in September 2025. This transition further reinforces Cardano’s commitment to decentralized governance and community-led decision-making, ensuring that those in leadership positions remain accountable to ADA holders.

Cardano’s Unstoppable Momentum

The ratification of the Cardano Constitution marks a monumental leap forward in decentralized blockchain governance. It cements Cardano’s leadership in the industry, providing an unprecedented level of community empowerment. As Hoskinson declared: “Because of that, Cardano is the global standard.” This achievement is more than just a governance milestone—it represents a paradigm shift in how decentralized networks operate. 

With every ADA holder now a stakeholder in the decision-making process, Cardano has set a powerful precedent for the future of blockchain governance. As the platform continues to evolve, its model may very well shape the next generation of decentralized ecosystems, ensuring that power remains in the hands of the people rather than centralized entities.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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