• The latest version of Cardano’s full-node wallet, Daedalus v7.0.0, has been released with the addition of a voting tab for all ADA holders to participate in governance decisions. 
  • Users would reportedly receive an alert in the software’s built-in newsfeed to update their wallets. 

Cardano (ADA) is set to subject its network to a massive transformation with the release of its Daedalus v7.0.0. According to our source , this would represent the latest release of its full-node wallet, which was developed for desktop users. Most importantly, this would unveil a mechanism that would enable ADA holders to delegate their voting power to designated representatives (DReps). Additionally, Daedalus v7.0 would provide options for users to choose an automatic voting model. Per our research, this would include the “no confidence” position.

According to Input Output Global (IOG), the updated wallet is divided into three categories: pre-production, preview environment, and mainnet. Users have also been cautioned against downloading cloned or fraudulent applications. In this case, any claim that Daedalus has been built for mobile or anything related is fraudulent.

To upgrade to this newly released application, users will receive an alert via the built-in newsfeed to update their wallets. As we highlighted earlier, some of the new features include a voting tab that enables users to indicate their preferences for governance participation.

Cardano’s (ADA) Governance Improvement and Constitution

This groundbreaking initiative comes at the time Cardano came up with its Cardano Improvement Proposal-1694 (CIP-1694) to ensure that decision-making is brought to the Cardano network on-chain. This will ensure that every ADA holder has a voice in Cardano governance by advancing the current governance system.

Currently, three governing bodies can secure consent on proposals submitted by the community. These are the Constitutional Committee (CC), Delegate Representatives (DReps), and  Delegate Representatives (DReps). Additionally, the Interim Cardano Constitution has already been published to redefine its governance system fully.

The Interim Constitution is not fully elaborated, but rather a set of essential rules that are designed to ensure Cardano maintains stability during the interim period that Cardano’s governance will go through during 2024. The Interim Constitution will be interpreted by the Interim Constitutional Committee, which will vote on the constitutionality of governance actions (as described in CIP-1694).

The final version of Cardano’s constitution was said to be ratified at the constitutional convention, which is made up of community delegates. The principles and rules for Cardano were also supposed to be outlined in the final version of the constitution.

A blog post published on this governance system also highlighted the role of institutions in this initiative.

Institutions create the spaces and structures for the ecosystem to ideate, deliberate, and recommend changes to the Cardano network. They can be informal collectives and alliances, such as the many working groups formed by the community since Cardano launched, to newer, larger organizations such as Intersect.

At press time, ADA was trading at $1.1 after declining by 3.9% in the last 24 hours.

Recommended for you:
  • Buy Cardano Guide
  • Cardano Wallet Tutorial
  • Check 24-hour Cardano Price
  • More Cardano News
  • What is Cardano?