Cardano has reached a major milestone with the approval of its Constitution during a global convention held in Argentina and Kenya on December 5-6.
The event brought together developers, investors, researchers, ADA stakers, and delegators to shape the blockchain network’s governance and future.
Cardano Community Secures Network’s Future With New Constitution
At the Cardano Constitutional Conference, an overwhelming 95% of delegates — 60 out of 63 members — approved the Constitution. This foundational document will guide the network’s governance, scaling, and technological advancements. It includes provisions for sustainable growth, robust decision-making, and effective Treasury management.
In his address, Cardano founder Charles Hoskinson described the approval as the culmination of years of work. He expressed confidence that the Constitution would empower the community to drive the network’s evolution, emphasizing its importance in making Cardano more resilient and capable.
“Voltaire is so incredibly important. It’s why what you did here is so incredibly important [because] it makes us so much smarter and so much more capable. Those weren’t just flags; those are representations of tens of millions and hundreds of millions of people — every person behind those flags could potentially be a person in our ecosystem, and all that made them special can be ours,” Hoskinson stated.
Notably, Hoskinson had previously highlighted the Constitution’s role in managing complexities like Treasury policies. He explained how Cardano might hold assets such as wrapped Bitcoin if it establishes itself as a Bitcoin-focused DeFi layer.
The Constitution also outlines steps for creating a legal entity to counter bad actors within the network. This initiative aligns with Cardano’s broader vision under the Voltaire era, which prioritizes decentralization and community-driven governance.
However, the approved Constitution is set to move on-chain next month for review and endorsement by decentralized representatives (DReps). According to CardanoScan Explorer, there are around 800 DReps in the ecosystem, with more than 50% of them active.
This achievement comes at a time of notable growth for Cardano. According to Input Output Global (IOG), the network recently surpassed 100 million total transactions after recording 2.65 million new transactions in November. Cardano-based projects have also grown to 1,979, with 603 new initiatives added.
Also, Cardano’s DeFi ecosystem has experienced a significant boost, with total value locked (TVL) jumping from $228 million at the start of November to $686 million. Meanwhile, ADA, Cardano’s native token, has surged by 184% over the last 30 days. Currently trading at $1.20, ADA has tripled in value compared to last month.
The post Cardano Gets Constitutional Approval Amid Ecosystem’s Growth appeared first on BeInCrypto.