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Cryptopolitan

05/09/2024

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Cardano founder Charles Hoskinson warns of risks in CIP-69 proposal

The founder of Cardano, Charles Hoskinson, has recently spoken about the excitement among the community regarding the proposed CIP-69, which is aimed to ease the development process on the Cardano blockchain....

Cardano founder Charles Hoskinson warns of risks in CIP-69 proposal

The founder of Cardano, Charles Hoskinson, has recently spoken about the excitement among the community regarding the proposed CIP-69, which is aimed to ease the development process on the Cardano blockchain. In a post shared across social media, Hoskinson confirmed that conversing with development groups was still taking place regarding the integration of CIP-69 in the upcoming Chang Hard Fork. He emphasized that the proposal is supported by a lot of the Cardano Foundation and the wider community, but it also brings risks as it diverges from the original roadmap.

The caution by Hoskinson pointed out the need for cautious reasoning to avoid possible disruptions. Despite the issues, he convinced the stakeholders that the development team was ready to implement CIP-69 with just minor delays. This improvement is designed to standardize arguments for Plutus scripts of every kind, thus making the whole platform more efficient and integrated.

Governance evolution begins with the Cardano hard fork

This year’s development, the Chang Hard Fork, is a significant step in the evolution of Cardano’s decentralised governance. It will implement a model of minimum-viable community-driven governance on the Cardano blockchain. This proposal is supposed to set the stage for the on-chain community consensus whose legitimacy will be mandated by a newly proposed blockchain constitution. The constitution wants to make the governance processes more effective and provide the democratic model for decision-making within the Cardano ecosystem.

This transition represents an adoption of what Hoskinson terms the “Voltaire era,” an imminent period in the development of ADA that will concentrate on strengthening the community-driven governance. The period is named after a French Enlightened philosopher, representing a strong focus on democratic ideals and decentralized governance within the Cardano community.

I saw the requests coming in for CIP-69. I spoke with the IOI delivery team, and they spoke with the folks at Intersect. There seems to be a lot of community demand for it, and the CF also has been pushing for CIP-69 to be included in Chang.

I don't think it will add a…

— Charles Hoskinson (@IOHK_Charles) May 9, 2024

Governance structure overhaul ahead

Once Chang Hard Fork is behind us, the Cardano community should prepare for a major overhaul of the governance framework with the arrival of CIP-1694. This proposal is poised to act as a pivotal component in reforming the governance model of Cardano. It will create necessary governing bodies for blockchain constitution. These changes are intended to get ADA ready for a phase of decentralized governance and represent a change in the way how decisions within the blockchain ecosystem are made.

Hoskinson stressed the incremental character of this transposition. Not all decisions will be immediately controlled by community consensus; it is the process of implementing these new governance mechanisms. The phased approach prohibits the community and developers from being benevolent in the new system, which is greater than the present process.

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