The IOG team prepares Cardano to enter the Voltaire era. If the topic of on-chain governance interests you, you should definitely not overlook CIP-1694. This Cardano Improvement Proposal (CIP) defines foundations for decentralized decision-making. This will be the first major step towards decentralised management of the Cardano project which will hand over a significant amount of power to the community.
- Currently, the 7 governance keys are divided between 3 entities.
- There will be a document called the Constitution and a committee to oversee governance.
- There will be a new role of Delegation Representative (DRep), which can be obtained by anyone interested. Stakers can delegate their stake to DReps.
- In the new governance model, key changes will be decided by the committee, DReps and SPOs.
This article was prepared by Cardanians with support from Cexplorer.
Read the article: CIP-1694: Cardano enters the Voltaire era | Cardano Explorer