Cardano Gets Constitution Approved, Ecosystem Develops

Cardano has achieved a major milestone with the approval of its Constitution at a global conference held in Argentina and Kenya on December 5-6. This event brou...

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Cardano has achieved a major milestone with the approval of its Constitution at a global conference held in Argentina and Kenya on December 5-6.

This event brought together developers, investors, researchers, ADA Holders and delegates to shape the governance and future of this blockchain network.

At the Cardano Constitutional Convention, 95% of delegates — 60 out of 63 members — ratified the Constitution. This foundational document will guide network governance, scaling, and technological advancement. It includes provisions for sustainable growth, strong decision-making, and effective Treasury management.

In his keynote, Cardano founder Charles Hoskinson described the approval as the culmination of years of work. He expressed confidence that the Constitution will empower the community to drive the growth of the network, emphasizing its importance in making Cardano stronger and more capable.

“Voltaire is extremely important. That’s why what you’ve done here is so important because it makes us so much smarter and more capable. It’s not just flags; It’s a representation of tens of millions and hundreds of millions of people — each person behind those flags could be a person in our ecosystem, and everything that makes them special could be theirs. us,” Hoskinson stated.

Notably, Hoskinson has previously emphasized the Constitution’s role in managing complexities such as Treasury policy. He explains how Cardano could hold assets like wrapped Bitcoin if it establishes itself as a Bitcoin-centric DeFi layer.

The Constitution also lays out steps to create a legal entity to deal with bad actors in the network. This initiative is in line with Cardano’s broader vision under Voltaire, which prioritizes decentralization and community-led governance.

However, the ratified Constitution will be put on-chain next month for review and consensus by decentralized representatives (DReps). According to CardanoScan Explorerthere are currently around 800 DReps in the ecosystem, with more than 50% of them active.

This achievement comes at a time of significant growth for Cardano. According to Input Output Global (IOG), the network recently surpassed 100 million total transactions after recording 2.65 million new transactions in November. Cardano-based projects also increased to 1,979, with 603 patents. New ants added.

Furthermore, Cardano’s DeFi ecosystem has seen a significant increase, with its total value locked (TVL) jumping from $228 million in early November to $686 million. Meanwhile, ADA, Cardano’s native token, has increased 184% in the past 30 days. Currently trading at $1.20, ADA has tripled in value over the last month.