Cardano Governance Ballot Details Revealed by Charles Hoskinson

Cardano Governance Ballot Details Revealed by Charles Hoskinson

Ethereum (ETH) and Cardano (ADA) Co- Founder Announces New Voting Tool

Charles Hoskinson, co- founder of Ethereum (ETH) and Cardano (ADA), made a whole lot of notice about a new voting tool, the Cardano (ADA) Ballot (Ballot). This tool will be used to decide the Cardano (ADA) Improvement Proposition CIP-1694. The voting process will involve a snapshot on Nov. 21 and a voting period between Dec. 11 and Dec. 16.

The purpose of the voting event is to gather feedback from the Cardano (ADA) community on the progress of Cardano’s goal of becoming a self-sustaining system. The Cardano (ADA) Foundation, Intersect, and Input Output Worldwide developed the Ballot technology.

Introducing the ‘Private CBDC’ Project by BIS Innovation Hub

Cardano (ADA) Ballot Last Step to Autonomy

To join the poll, users are required to stake Cardano (ADA) by Monday, Nov 20. Staking users and non-hardware wallets can give feedback via a form while hardware wallet users can vote later. The poll results will be published by Dec. 16, and the feedback will inform development and governance priorities in 2024.

Charles Hoskinson wants the Ballot to be used as a template to gauge community sentiment around major decisions such as hard forks, Cardano (ADA) Treasury, and parameter changes. This is part of the governance roadmap to allow easy “wallet voting” in Cardano (ADA), making it self-sustaining and independent of Input Output Global.

Discover Chainlink’s Native Staking System Unleashed in Upgrade V0.2
Cardano Decentralization Roadmap
Cardano (ADA) Decentralization Roadmap | Source: Cardano

The new user adoption rate of Cardano (ADA) rose to a monthly peak of 32.3% on Nov. 9 and stayed over 30% for five days. The token’s price is as of now $0.356.

Hoskinson mentioned that the Cardano (ADA) Foundation worked diligently on developing the Ballot system. The Cardano (ADA) developer community is the most active according to data from Santiment.

Cardano (ADA) Ballot and CIP 1694. Source: YouTube

Recently, the Cardano (ADA) Foundation announced a new project was known Ledger Sync, to simplify the provisioning of blockchain data for developers. The Foundation is coding the program in Java to assist developers access data from Cardano (ADA) transaction blocks more efficiently.

If you have something to emphasize about Cardano (ADA) Ballot, you can write to us or join the discussion in our Telegram channel.

Commencement of Rewards Distribution by dYdX Chain’s Derivatives Trading Protocol Following Approval from Community

Hot Take: Cardano’s Future Direction

Cardano (ADA) is pushing for more self-sustainability through innovative tools like the Cardano (ADA) Ballot. With the community actively taking part , the consensus on major decisions will in the end make Cardano (ADA) less centralized and more independent.

Author – Contributor at | Website

Bernard Nicolai emerges as a beacon of wisdom, seamlessly harmonizing the roles of crypto analyst, dedicated researcher, and editorial virtuoso. Within the labyrinth of digital assets, Bernard’s insights echo like a resonant chord, touching the minds of seekers with diverse curiosities. His talent for deciphering the most intricate strands of crypto intricacies seamlessly aligns with his editorial finesse, transforming complexity into a captivating narrative of comprehension.

Whale Sells 46 Million XRP, Causing Price to Drop Below $0.60 Support Once More
Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.

Subscribe to our Social Media for Exclusive Crypto News and Insights 24/7!

Email me the hottest Crypto news!

Latest Crypto News

Share via
Share via