Plomin hard fork brings decentralized governance to Cardano
Cardano is set to activate the Plomin hard fork by 21:44 UTC on Jan. 29, ushering in a new era of decentralization for the network.
This upgrade, confirmed in a Jan. 29 statement shared with CryptoSlate, grants ADA holders direct voting power over critical network decisions, including parameter adjustments, treasury withdrawals, and hard forks.
Plomin hard fork
Intersect, a Cardano member-based organization, emphasized that Plomin will enable on-chain voting, a pivotal step toward complete decentralization.
According to the organization, the hard fork finalizes the implementation of CIP-1694 as Cardano enters the Voltaire eraa phase designed to establish a self-sustaining blockchain. Through on-chain voting, the community will gain control over changes to network parameters, treasury allocations, and protocol upgrades.
ADA holders now have two options for governance participationvoting directly or delegating their rights to representatives (DReps). This system is supported by Cardanos liquid staking mechanism, which allows users to adjust their delegation every five days.
The Plomin upgrade also sets the stage for community-led decisions. Cardano members will soon vote on ratifying the networks constitution. Additionally, they will determine the first formal budget for the ecosystem in the first quarter of 2025, deciding how treasury funds are allocated and withdrawn.
Jack Briggs, the Ecosystem Director at Intersect, said that Plomin places the networks future directly in the hands of ADA holders. He highlighted the potential of decentralized governance to drive innovation by turning community debates into meaningful progress.
Whats next for Cardano?
With governance now in the hands of its users, Cardanos future development will be guided by community-driven priorities.
Input Output Global (IOG), the blockchains core development team, has submitted a proposal outlining the networks next phase. The roadmap focuses on three key areas: scalability, usability, and interoperability.
These pillars strengthen Cardanos infrastructure, supporting an expanding user base while enhancing its capabilities for decentralized applications (DApps) and smart contracts.
The goal is to improve cross-chain functionality, making Cardano more connected to the broader blockchain ecosystem.
This roadmap aligns with Cardano founder Charles Hoskinsons priorities for the networks evolution. His vision includes integrating Bitcoin into Cardanos DeFi ecosystem, scaling network performance, and expanding cross-chain interoperability.
Additionally, he has hinted at a potential collaboration with Chainlink to enhance connectivity and boost the blockchain networks stablecoin supply.
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Text source: CryptoSlate
