06.12.2021

Governance on the Cardano Will Become More Complex As the Network Expands

Frederik Gregaard said that the goal of the Cardano Foundation has not changed. It is still the advancement of the Cardano protocol. The Foundation put IOHK in place to further its agenda.

However, the contract IOHK signed with them will soon expire. Through Voltaire, the Cardano community will vote on whether or not the contract will be renewed in a few months. If the community votes in favor of renewing the contract, this is what will happen. If they vote against it, another firm will be hired to continue managing the protocol.

Gregaard also talked about Charles Hoskinson. He said that he has worked with Hoskinson in the past and he believes that their relationship will be productive. He also said that Charles is a brilliant person who is dedicated to the progress of the blockchain;

“Charles did initiate the project together with one of his colleagues. So, there’s no doubt about how brilliant he is and how visionary he is. But he’s running a product company that needs to deliver products. …> I’m sure that there are going to be some fights in terms of priorities and some spots where we believe, together with the community may be, that we should go a bit more right and Charles wants to be a little bit more left and we need to agree on that together.”

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

  • Frederik Gregaard, the Incoming Cardano CEO, Says That the Cardano Governance Structure Will Become More Complex With Expansion
  • Cardano Will Maintain Its Independence Despite Expansion 

If you’ve been paying attention to the progress of the Cardano blockchain, you’ll know that the network has always had the goal of being decentralized. Unlike the Ripple blockchain that is controlled by Ripple alone, the Cardano blockchain is controlled by three different organizations, EMURGO, IOHK, and the Cardano Foundation. While these organizations are in control of the Cardano blockchain, major changes are made based on community consensus. According to the incoming CEO of the Cardano Foundation Frederik Gregaard, this complex governance structure is going to become more complex with expansion.

Frederik Gregaard Talks About Governance on Cardano

During his latest interview with the Cointelegraph.com, Frederik Gregaard said that the Cardano Foundation intends to maintain its independence from the other two organizations and Charles Hoskinson himself. In his words;

“The Foundation law in Switzerland says that we need to be independent. That’s exactly why it’s interesting and why Charles chose to set it up like that, because he really, truly feels that the people who are going to protect the Cardano protocol for the generations to come, need to be independent.”

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