- Cardano’s Plomin hard fork marks a shift to full decentralised governance, giving ADA holders real voting power over protocol changes, treasury allocations, and future upgrades.
- ADA’s price surged nearly 3% following the news, trading at US$0.94, a positive reaction to the governance overhaul and increased community involvement.
Cardano (ADA) is undergoing a major upgrade with its Plomin hard fork this week, aiming to give ADA holders a greater say in the network’s governance.
The upgrade, described by the Cardano Foundation as a milestone in blockchain governance, will allow users to vote on protocol changes and future upgrades directly. Previously, these were made by developers, the Cardano Foundation, Input Output Global, and EMURGO, a key voting member of Cardano’s Interim Constitutional Committee (ICC).
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The Plomin hard fork now allows ADA holders to take an active role in shaping the future of the network, being able to participate in decisions regarding protocol changes, treasury fund allocations, and even future hard forks.
The hard fork has the green light to proceed as staking pool operators approved the upgrade with a 51% majority. Well, 78% of Cardano’s nodes had already upgraded by January 22, according to EMURGO. The high adoption rate signals broad community and developer support for the governance overhaul.
Even the Cardano Foundation formally backed the upgrade, confirming in a Jan. 23 statement that it had conducted a thorough review and found the governance action to be fully constitutional.
For those who prefer not to vote on every decision themselves, the system allows for delegation to Delegated Representatives (DReps), individuals or groups who can vote on their behalf.
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ADA has reacted positively to the news, surging nearly 3% on the daily chart, currently trading at US$0.94 (AU$1.51), as per data from CoinMarketCap.
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