Thread by @emurgo_io

CIP-1694 is a discussion proposal for the Cardano community about on-chain governance to shape a sustainable future for Cardano and bring another major upgrade to the network.

🧵Let’s dissect #CIP1694 and see what it means for Cardano ADA holders!

The Cardano blockchain has developed its ecosystem over the past several years, and now the focus is moving to Cardano’s decentralized governance policies to ensure its future sustainability.

As a decentralized blockchain, Cardano was meant to eventually be governed by its community including ADA holders, devs, SPOs, academics, and others.

CIP-1694 is a specific Cardano Improvement Proposal, a formal document from the Cardano community that contains specifications and organizational notes.

The document includes topics related to on-chain governance including native tokens, new standards for on-chain improvements, and other proposed changes for the community.

CIP-1694 was named after the birth year of Voltaire and marks the beginning of the Voltaire era.

This means that CIP-1694 will start to form the governing bodies of the Cardano protocol including a Constitutional Committee and Delegated Representatives (dReps), voting policies, and other governance details.

CIP-1694 aims to give every Cardano ADA holder a say in the future direction of Cardano and be able to show their preferences by voting on-chain.

This way, the Cardano community will be involved in the decisions that shape Cardano’s future.

Once CIP-1694 is confirmed and running, Cardano will be in the hands of the community. A Cardano user would be able to make proposals, have them be presented for a vote, and if successful be implemented.

Read more about the basics of CIP-1694!
emurgo.io/the-basics-of-…
#Cardano #CardanoCommunity #Voltaire