Cardano Plomin Hard Fork Is Now Live

Cardano Plomin Hard Fork Is Now Live

Key Points:

  • Cardano Plomin hard fork enables ADA token holders to vote on key governance decisions, including treasury measures and hard forks.
  • Over 85% of Cardano’s network nodes have upgraded to the new version, allowing the governance changes to proceed successfully.

Cardano has officially activated its “Plomin” hard fork, marking a significant milestone in the blockchain’s shift towards decentralized governance.

Read more: Chang Hard Fork Launched to Push Cardano’s New DeFi Governance 

Cardano Plomin Hard Fork Launched to Boost Decentralized Governance

Cardano Plomin hard fork, launched on Wednesday, enables ADA token holders to directly influence the network’s future by voting on treasury measures, protocol changes, and hard fork decisions.

The Plomin upgrade builds on the foundation laid by the “Chang” hard fork, which was implemented just four months ago. This prior update established many of the mechanisms that now empower token holders to delegate voting power to elected representatives. These delegates will vote on key governance actions, such as protocol parameter adjustments and treasury withdrawals.

To ensure the success of the upgrade, Stake Pool Operators (SPOs) were required to update their nodes and approve the changes with a 51% majority vote. As of January 22, 78% of Cardano’s network nodes had upgraded, and by this week, 85% had transitioned to the new version, enabling the network to move forward with the changes.

Cardano’s Roadmap Focuses on Community Development

The Cardano Plomin hard fork is seen as a significant step in the blockchain’s evolution, as governance is now firmly in the hands of its community. The development of Cardano is expected to be driven by user priorities, with an emphasis on scalability, usability, and interoperability, as outlined in a proposal by Input Output Global (IOG), the network’s core development team.

Charles Hoskinson, Cardano’s founder, said that this shift towards community governance would define the network’s future, increasing transparency and autonomy. The roadmap also includes plans for advanced features like ZK rollups and an on-chain fund, ‘Catalyst,’ to support decentralized applications (dApps) and other projects.

Rate this post

Other Posts: