Hoskinson Lauds Intersect Elections as Pivotal Moment for ADA ⋆ ZyCrypto
The post Hoskinson Lauds Intersect Elections as Pivotal Moment for ADA ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     Cardano co-founder Charles Hoskinson has praised the recent elections held by Intersect, the governance body guiding the Cardano ecosystem, as a key milestone toward decentralization. Notably, the elections, which concluded on Wednesday, saw 574 unique voters cast 7,244 votes, achieving a 37% participation rate among eligible members. In a tweet on Wednesday, Hoskinson congratulated the newly elected members and reflected on the progress made in community governance. “Congratulations to everyone elected. Like all new organizations, Intersect has been a bumpy ride, but community governance is growing, and processes are improving.” He stated. Hoskinson also hinted at a swift transition to Intersect’s next wave of staffing and leadership ahead of the Constitutional Convention in December, where 126 delegates and alternates from 50 countries are expected to convene. Advertisement   This election marks Intersect’s first full-scale election for its committees and governing board, reflecting the Cardano community’s dedication to self-governance. In an official blog post, Intersect celebrated this achievement, highlighting the significant participation of over 140 candidates worldwide and noting that the election demonstrated Cardano’s commitment to inclusivity and global collaboration. The elections are a part of Cardano’s broader shift toward decentralized governance, particularly through establishing a Constitutional Committee. This body will work with decentralized representatives (DReps) to guide Cardano’s governance framework as the ecosystem evolves. DReps, a central component of Cardano’s governance model, are community members who hold ADA and have registered on-chain to act as representatives, receiving delegated voting power from other ADA holders. Moreover, on Thursday, Intersect further elaborated on the role of DReps in Cardano’s governance. “Cardano’s current behavior and future are determined by the ADA holders with the most stake in its success. Individual holders can vote on governance actions, or they can choose to delegate their power to registered representatives.” Intersect noted. As…
Filed under: News - @ October 24, 2024 6:25 pm