The Cardano Foundation has released a significant update to the Cardano Constitution, aiming to enhance governance within the blockchain ecosystem. This development coincided with a 12% increase in the value of ADA, signalling positive market sentiment.
New Cardano Constitution Focuses on Governance and Inclusivity
An updated proposal for the Cardano Constitution has been unveiled to improve the blockchain’s governance framework. Initially drafted on July 29th, this proposal incorporated insights from constitutional workshops, community feedback, and expert discussions.
The updated Constitution will be made available in several languages, including Japanese, Spanish, Hindi, and Portuguese, to ensure global accessibility.
Cardano Governance to Be Streamlined for Wider Participation
The new proposal emphasizes efforts to make the governance framework more accessible and transparent. The focus is on engaging a less technical audience to encourage greater stakeholder participation.
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Key updates include governance action specifications, budget and treasury details, a reorganized table of contents, and revised sections in the Preamble and Tenets.
Charles Hoskinson Optimistic About Cardano’s Future
Cardano creator Charles Hoskinson has expressed optimism about the platform’s trajectory, highlighting the importance of on-chain governance. He believes the updated Constitution will lay a strong foundation for Cardano as it moves into 2025.
In a recent statement, Hoskinson reaffirmed his confidence in the blockchain’s ability to achieve long-term success through these governance improvements.
ADA Price Rises as Cardano Community Reacts Positively
Following the release of the updated Constitution, ADA recorded a 12.38% price increase in 24 hours, trading at $0.885. The token is now approaching the critical $1 level.
Market data from CoinMarketCap reveals that ADA is the ninth-largest cryptocurrency, with a market cap of $31.02 billion. Despite being 71.39% below its all-time high of $3.10 in 2021, ADA has surged 43.95% in the past week and 140.72% in the past 30 days.
Cardano Strengthens Its Position in the Blockchain Industry
With its updated Constitution and a focus on governance, Cardano is positioning itself as a leader in blockchain innovation. By improving accessibility and transparency, the platform encourages broader participation and sets a standard for decentralized governance.
The ongoing growth in ADA’s value reflects the market’s confidence in Cardano’s vision and its ability to deliver impactful solutions in the blockchain space.
