Cardano Completes First On-Chain Governance Vote for Development Funding
Cardano (ADA) has completed its first on-chain governance vote, allowing the community to directly approve core development funding. This milestone marks a shift toward decentralized governance for the blockchain.
Key Developments
- The completion of the governance vote signifies a transition where community members make decisions instead of centralized entities.
- Charles Hoskinson, Cardano’s founder, expressed support for the event, highlighting the operational reality of decentralized governance.
- Input Output Global (IOG) celebrated this achievement, noting that the community made history with the vote.
- The vote approved direct funding for core development, empowering the global community in resource allocation.
- Cardano is now the only top 10 cryptocurrency by market capitalization with an active on-chain governance framework.
- Currently, 39 treasury withdrawal proposals are open for voting, allowing Delegated Representatives and the community to influence funding decisions.
- No other top 10 cryptocurrencies have matched Cardano's level of on-chain decision-making power.