Cardano

Cardano has taken a significant step toward decentralized governance with the launch of the Plomin hard fork. Key Takeaways:- Cardano activated the Plomin hard fork, shifting governance power to ADA holders through Delegated Representatives (dReps).- The upgrade, part of CIP-1694, introduces a Constitutional Committee and requires Stake Pool Operators (SPOs) to approve the transition, with over 60% already supporting it. Plomin upgrade, named after community member Matthew Plomin, marks a shift in decision-making power from the blockchain's founding entities to its users. The upgrade includes the implementation of Delegated Representatives (dReps), allowing ADA token holders to participate in governance either directly or through delegation. The Plomin hard fork is part of Cardano’s transition under CIP-1694, a proposal designed to establish a fully decentralized governance structure. It introduces a Constitutional Committee, a temporary body ensuring smooth decision-making before the community assumes full control. Over time, all governance decisions will be recorded transparently on-chain. For the upgrade to take effect, Stake Pool Operators (SPOs) must update their nodes and approve the transition. As of last week, 78% of network nodes had been upgraded, and over 60% of SPOs had approved the change. A 51% threshold is required for full implementation. Cardano's governance shift also includes an upcoming vote on its official constitution, initially signed in December 2024. Once the Plomin upgrade is fully implemented, Cardano will enter the Voltaire era with community-driven decision-making and long-term decentralization. Disclaimer: The information on this website is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are volatile, and investing involves risk. Always do your own research and consult a financial advisor.

Cardano Moves Toward Decentralization with Plomin Hard Fork

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