Cardano is taking a big step towards becoming completely self-governed, ditching the need for a central authority. Founder Charles Hoskinson recently gave a livestream update detailing the plan.
The Constitution and Roadmap
The community is currently voting on Cardano’s constitution. About half have voted “yes,” a small percentage “no,” and the rest haven’t voted yet. The current trend suggests a “minimum viable governance” approach will likely be adopted around February. After the constitution is ratified, it will be open to revisions.
Alongside the constitution, Cardano’s roadmap will also be voted on through on-chain governance. Input Output Global (IOG) and Intersect (a governance facilitator) have both submitted their versions. Key discussion points include things like Ouroboros Leios and multi-client architecture. Stake pool operators (SPOs) are also involved in the process. The focus will shift from the constitution to the roadmap around mid-February.
Budget Battles and Transparency
The budget is expected to be the most contentious part. Hoskinson acknowledges the potential for disagreements, emphasizing the importance of transparency. The proposed process allows for multiple competing budget proposals. A working group will consolidate these into a final budget for a community vote. Neither Hoskinson nor IOG will decide the outcome. The idea of funding coalitions—like one for core protocol development and another for broader projects—is also being introduced. Audits and oversight, possibly using smart contracts and external agencies, are planned to ensure transparency and prevent misuse of funds.
Governance Without a CEO
Cardano’s unique approach is to function without a traditional executive branch. It’s envisioned as a system with a legislative branch (the community) and a judicial-like Constitutional Committee. The executive function will emerge from the community itself. Hoskinson believes that if successful, this model could revolutionize governance in various organizations, from corporations to nations. He sees this decentralized system as crucial for Cardano’s long-term success and growth. His hope is that even if he’s away for years, the platform will continue to thrive.
