Charles HoskinsonCardano founder, provided key insights into Cardano’s next development and governance phases and Chang’s Solid ForkWith these plans in place, ADA, the native token of the Cardano ecosystem, has also seen Big rise in new scaleIndicating a rise in investor interest and confidence.
Upcoming developments in the Cardano network
Recently YouTube videoHoskinson revealed that the Cardano network is currently going through a major phase, which he described as a “90-day rollout phase,” where core components of the network’s governance framework will be gradually activated. The Cardano founder provided a detailed update on Chang’an Hard Fork Road Maphighlighting how the network is progressing through the interim and preparatory stages to finally transition to Voltaire’s age.
He also stressed the importance of the preparatory phase, noting that during this initial phase, authorized representatives (DReps) will be registered, and the interim phase Constitutional Committee It will also begin to take shape. Hoskinson also announced that after the bootstrap phase, Cardano will launch the “Change+1 upgrade,” at which point the network will go live. Achieving fully decentralized governance.
He revealed that Cardano will also implement a tripartite rule consisting of three parties including the House of Representatives, the Constitutional Committee, and the Parliament. Stake Pool Operators (SPOs)This transition is expected to occur around December 2024, based on the 90-day timeline for the Chang’e Plus One upgrade.
In roughly the same timeline, Cardano will enter its final phase. Full decentralizationwhich features the Genesis node and significant improvements to the overall network. Hoskinson revealed that as this phase continues, Cardano will develop its first official constitution.
He revealed that this initiative is already underway, with more than 50 workshops held in different countries to discuss and draft the constitution. Each workshop will elect an individual delegate, who will collectively form a constitutional conference, where the Cardano team will meet in Argentina next December. The Cardano founder also revealed that during the conference, the “proposed V1 constitution” will be developed.
Hoskinson also noted that Cardano vaultCardano, which is currently valued at around $600 million in ADA, will undergo an annual budget process aimed at addressing the needs of the ecosystem, including marketing, development, and more. In a major shift, Cardano’s founder confirmed that the network will move toward greater decentralization, at which point, Input-Output Global (IOG) It will end its governance role within Cardano, and DReps will no longer be available.
All these changes will have a significant and positive impact on Cardano Networkfacilitating the development of its new governance and representing a historic milestone in the ecosystem.
ADA Address Activity Hits All-Time High
While developments for Cardano Governance Market intelligence platform Santiment in X (formerly Twitter) revealed that Chang’s promotion is underway. mail This is the original Cardano token, ADAI have recently seen a significant increase in address activity. Historically, when crypto assets experience a sustained decline in value, it often indicates strength. Possibility of price increase.
Recently, ADA has performed relatively well despite Decrease in market share Bitcoin (BTC) price. At the time of writing, Cardano is trading at $0.328, reflecting a 2.38% increase in the last 24 hours and a 5.12% rise over the past week, according to CoinMarketCap.
Featured image created using Dall.E, chart from Tradingview.com