Cardano’s Future: Founder Insights as ADA Metrics Surge Green

Charles Hoskinson, the creator of Cardano, has shared crucial insights regarding the forthcoming development and governance stages of Cardano, including its Chang hard fork. As these plans unfold, the ADA token, which serves as the native currency of the Cardano ecosystem, has also witnessed a notable increase in a new metric, pointing to an uptick in investor enthusiasm and trust.

Future Developments in the Cardano Network

In a recent YouTube video, Hoskinson disclosed that the Cardano network is currently in a critical phase, which he labels as a “90-day bootstrap phase,” where vital elements of the network’s governance structure will gradually be activated. The founder elaborated on the Chang hard fork roadmap, outlining how the network will evolve through the interim and bootstrap phases before finally transitioning into the era of Voltaire.

He emphasized the significance of the bootstrap phase, noting that during this initial period, the registration of Delegated Representatives (DReps) will take place, and the interim Constitutional Committee will also begin to form. Hoskinson also announced that following the bootstrap phase, Cardano will introduce the “Chang +1 upgrade, which will mark the achievement of a fully decentralized governance.

He revealed that Cardano will incorporate a tripartite governance system involving three parties: the DReps, the Constitutional Committee, and the Stake Pool Operators (SPOs). This transition is expected to happen around December 2024, contingent on the 90-day schedule for the Chang plus one upgrade.

Simultaneously, Cardano will enter the final phase of full decentralization, featuring a node Genesis and notable enhancements to the overall network. Hoskinson disclosed that during this period, Cardano will work on its first official constitution.

He mentioned that this effort is already underway, having conducted over 50 workshops globally to discuss and draft the constitution. Each workshop will select a single delegate, collectively forming a constitutional convention, where the Cardano team will convene in Argentina this December. Additionally, the “proposed V1 constitution“ will be developed during the convention.

Hoskinson added that the Cardano treasury, currently valued at approximately $600 million in ADA, will undergo an annual budgeting process aimed at fulfilling the needs of the ecosystem, including marketing and development. In a significant shift, the Cardano founder highlighted that the network will progress toward increased decentralization, at which stage, Input Output Global (IOG) will cease its governance role within Cardano, and DReps will no longer be accessible.

These changes are expected to have a profound and positive effect on the Cardano network, aiding in the establishment of its new governance and signifying a historic milestone within the ecosystem.

ADA Address Activity Reaches All-Time High

While advancements regarding Cardano’s governance and Chang upgrade are underway, market analytics platform Santiment has reported via an X (formerly Twitter) post that Cardano’s native token, ADA, has experienced a remarkable increase in address activity. Historically, when crypto assets show a continuous decline in value, it often suggests a strong potential for a price recovery.

Recently, ADA has shown relatively strong performance despite the drop in its market share and the price of Bitcoin (BTC). At the time of this writing, Cardano is trading at $0.328, marking a 2.38% increase in the past 24 hours and a 5.12% rise over the last week, according to CoinMarketCap.