Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Cardano Completes Crucial Vote For New Constitutional Committee

Share This Post

The Cardano community has successfully completed the voting process for the inaugural members of its Interim Constitutional Committee (ICC). This committee is tasked with upholding the interim Constitution and overseeing the initial on-chain governance decisions on the Cardano blockchain.

Cardano Concludes Crucial Vote

A total of 21 candidates, representing a broad spectrum of the community, applied for a position on the ICC. The election process saw significant engagement, with over 455 million ADA tokens staked and 1,947 unique votes cast. The community members participated in a transparent, ranked-choice voting system to elect their top three representatives.

The elected committees are as follows:

Cardano Atlantic Council received the highest number of votes, securing 51.4% with 232,162,950,759,731 Lovelace (ADA’s smallest unit). The council consists of six members from diverse backgrounds, including Adam Dean and Jennifer Brito from the USA, Beatrice Anihiri from Norway, Mike Hornan from Canada, Thiago Nunes from Brazil, and Richard McCracken from the USA.

Cardano Japan, comprising all Japanese members Seira Yun, Shusuke Wakuda, Rena Oishi, and Hideki Takeshi, garnered 18.7% of the votes, translating to 84,639,727,186,264 Lovelace.

Eastern Cardano Council, a multi-national group featuring Jo Allum from New Zealand, Mark Byers and Phil Lewis from Australia, Oscar Hong from South Korea, Ha Nguyen from Vietnam, and Yuki Oishi from Japan, received 10.3% of the votes, amounting to 46,481,326,751,056 Lovelace.

The positions of alternate members are held by Mauro Agustín Andreoli (Argentina), Scientific Analytical Tools LLC (UAE), and Joshua Stone (USA), which received the fourth to sixth most votes. These individuals and entities will serve as replacements should any of the top three councils be unable to fulfill their roles on the ICC. This provision ensures continuity and resilience in the governance framework of Cardano.

Patrick Tobler, CEO of NMKR, expressed strong confidence in the newly elected committee, remarking, “I feel very confident about these results. The Cardano Community will be very well represented in the Interim Constitutional Committee.” This sentiment reflects the community’s trust in the democratic process and the selected members’ capabilities to guide Cardano through its next phase of governance.

Intersect has announced that the onboarding process for the elected members will begin shortly. In addition to setting up the new committee, Intersect is also calling for applications to form its own Constitutional Council. This council will represent one of the votes on the ICC, extending an opportunity to those who were not elected in this round to still play a significant role in governance.

Looking ahead, the drafting of Cardano’s final Constitution is scheduled to commence in August. This will involve more than 50 workshops globally and is expected to culminate in a Constitutional Convention in Buenos Aires this December. The final Constitution will lay down the foundational governance framework, shaping its trajectory for years in the Voltaire era.

At press time, ADA traded at $0.389.

Cardano ADA price

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Ripple’s New Trademark Filing Sparks Speculation on Upcoming Crypto Wallet

The post Ripple’s New Trademark Filing Sparks Speculation on Upcoming Crypto Wallet appeared first on Coinpedia Fintech News Ripple Labs, the blockchain company behind the XRP token, has

Wazirx Preps for Relaunch With Zodia Custody, Backed by Banking Powerhouses

Wazirx is gearing up for a high-stakes relaunch after a major security breach, partnering with Zodia Custody to reinforce asset security and rebuild user trust Wazirx Is Gearing Up for High-Stakes

XRP To Triple Digits? Analyst Confident In $100 Price Goal

As one of the top-performing digital assets in the 4Q of 2024, it’s only natural that Ripple’s XRP attracts attention from its detractors and bullish supporters The bearish sentiment has been

Caution from US investors leaves Coinbase Premium negative

March brought significant volatility to Bitcoin After starting the month trading around $90,000, Bitcoin experienced a series of sharp declines, dipping below $80,000 by mid-March This 10% correction

Poll: Low Support for Federal Crypto Spending; White House Fact Sheet Contradicts Survey

A recent survey by Data for Progress found that only about 10% of US voters want the Trump administration to increase federal funding for cryptocurrency and blockchain development However, a White

Bitcoin Supply Stress Ratio Reaches Highest Since September: What It Means

On-chain data shows that the Bitcoin “Supply Stress Ratio” has climbed to 023 recently, a sign that may not be positive for the BTC market Bitcoin Supply Stress Ratio Indicates Market