Charles Hoskinson Read Cardano Twitter Platform Action Charles Hoskinson Read Cardano

Cardano’s governance gets questioned; Charles Hoskinson responds with…

Reading now: 687

Vanessa Hariss, a Senator at Team Kujira (a decentralized ecosystem for protocols), on 5 March claimed that the Cardano governance was not centralized.In a Twitter thread, she stated that IOG (Input Output Global), the company behind Cardano’s formation, could dominate a large part of Cardano’s governance.Read Cardano’s [ADA] Price Prediction 2023-24According to her, this dominance and subsequent lack of centralization in governance would be occurring due to theCIP-1694 proposal.As per Vanessa, the CIP-1694 proposal will be giving away a lot of power to Cardano’s Constitutional Committee.

The Constitutional Committee, which comprises of insiders from IOG, would be able to veto any governance action, except motions of no confidence and calls for a new committee.Vanessa stated that replacing the committee would be a difficult task and that a no-confidence vote would require a large majority of representatives.Due to these factors, she asserted that under the CIP-1694 proposal, IOG would always retain control of Cardano, except in rare situations.She also mentioned that ADA stakers will not be afforded a platform to participate in the governance affairs of Cardano.The stakers would have to pay a fee to a Delegated Representative or become a Delegated Representative themselves to participate in Cardano’s governance.Well, much to the surprise, Charles Hoskinson responded quickly to these claims.

He dismissed these statements saying, “This is categorically false and a great example of how FUD spreads.”In a response to Charles’ tweet, many users have requested for a Twitter space to be held where all these doubts about the Cardano governance can be clarified.Meanwhile, all the talk about the Cardano governance affected the

The website is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.