Cardano’s community has started voting for the Interim Constitutional Committee (ICC), a crucial step in the governance restructuring under the Chang hard fork. This development coincided with a sudden rebound in the crypto market, with Cardano (ADA) experiencing a surge of over 4% before dipping back into the “red zone” and trading at $0.39.
The voting process allows ADA holders to select three new members for the ICC and is being conducted through the Summon Platform. The voting will conclude on June 23, covering Epochs 491 and 492.
Charles Hoskinson, the founder of Cardano, clarified the upcoming releases in a recent tweet. He stated that the entire package, including the fork-ready candidate, the guardrail contract, and the interim constitution, would be released with the release candidate node. He expressed confidence that this release would take place on or before Friday.
Hoskinson’s clarification aimed to ensure transparency and preparedness within the community. However, some members of the community expressed concerns about secrecy in a decentralized ecosystem. They emphasized the importance of community trust and participation and suggested alternative methods for fostering a healthier dialogue about the evolving governance structure.
The Cardano Constitution, currently an off-chain informational document, is intended to encapsulate the core values of Cardano and ensure its long-term sustainability. It is expected to evolve into a smart-contract driven framework over time. The ICC acts as a guardian of this constitution, with mechanisms in place to replace it through specific governance actions if necessary. This reflects a robust and flexible governance framework focused on accountability and adaptability.
As Cardano approaches the Chang hard fork, the community dynamics and the unfolding governance model are of critical importance. The outcomes of the current voting and the integration of the interim constitution will have significant and lasting impacts on the operational and governance landscape of the blockchain.
At the time of writing, Cardano (ADA) is priced at $0.3866, showing a 0.14% increase in the past day and an 8.39% decrease in the past week.
