Charles Hoskinson, the founder of Cardano, recently provided important updates on the Edinburgh CIP-1694 workshop via Twitter. The workshop focuses on the Cardano Improvement Proposal (CIP-1694) titled “The First Step Towards On-Chain Decentralized Governance” and serves as a platform for final discussions on this proposal.
Hoskinson expressed his satisfaction with the successful Day 1 of the CIP-1694 workshop in Edinburgh. He clarified that the event in Edinburgh aims to consolidate and summarize the outcomes of various workshops conducted throughout the year, specifically related to the design of CIP-1694.
“The first day of the CIP-1694 workshop in Edinburgh was a great success. We have a large, diverse group here from South America to Asia, and we are unpacking the 50+ workshops attended by more than 1,000 people,” Hoskinson tweeted on Wednesday.
In addition, the founder of Cardano stated that during the upcoming Edinburgh workshop, they would address important topics related to the design of CIP-1694. These topics include issues like incorporating real-life identities into delegated representatives (Dreps) and establishing incentives for individuals to participate in governance. These matters will be carefully discussed in the following days of the workshop.
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Furthermore, he expressed gratitude for the enthusiastic involvement of the Cardano community in the discussions regarding CIP-1694 and their overall engagement in the planned upgrade process. Hoskinson praised the Cardano community, considering them to be the most exceptional within the cryptocurrency space.
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Rick McCracken, an esteemed member of the community and operator of a Cardano Stake Pool, supported Hoskinson’s update by offering more specific information regarding the subjects that will be covered.
According to him, the upcoming Edinburgh workshop will address various topics, including discussions on the necessary stake weight voting threshold for proposals during the Voltaire upgrade. McCracken also emphasized that achieving a minimal viable governance system on Cardano would be a key focus during the workshop.
Lucas Macchiavelli, a Cardano ambassador, expressed his enthusiasm for the summit and shared a photo captioned “amazing first day.” The picture showcased attendees of the Edinburgh workshop, including Hoskinson himself.
The Cardano CIP-1694
To enhance the Cardano ecosystem and promote greater decentralization in its governance, developers led by Hoskinson are preparing for the final IOG upgrade called Voltaire. This upgrade follows the Vasil upgrade implemented in September 2022.
As part of the preparations for the Voltaire era, the Cardano Improvement Proposal (CIP-1694) has been introduced by prominent community members, including Hoskinson. The proposal primarily focuses on revising Cardano’s on-chain governance system to accommodate the new requirements for Voltaire.
The main objective of the proposal is to make the governance of Cardano, a leading smart contract platform, open to all community members. This means that any Cardano user will be able to submit a governance action within the community and participate in voting on future improvements. Importantly, the implementation of CIP-1694 aims to address concerns about centralization that have recently been raised by Hoskinson.