Cardano Foundation chief technology officer Giorgio Zinetti told Cointelegraph that centralized authority is good for speed, but decentralized governance would give long-term sustainability.
While decentralized governance reflects the ethos of Web3 systems, a Cardano Foundation executive recognized that there are also challenges that need to be addressed in implementing a truly decentralized system.
Cardano Foundation executive Giorgio Zinetti discussed the benefits and challenges of decentralized governance in Web3 systems at the Cardano Summit in Dubai, emphasizing Cardano’s commitment to onchain governance.
Zinetti, Cardano Foundation’s chief technology officer, said that Cardano is now “the biggest layer-1 with onchain governance.” He added that Cardano is one of the few large blockchain projects that has fully implemented this model. He said:
