AI Summary
- Cardano has switched to ‘full decentralized governance’ after its new Plomin hard fork went live on Wednesday.
- Previously Cardano’s blockchain network witheld various voting rights and proposals from ADA token holders.
- With the hard fork now live, new features have been brought to ADA along with improved voter rights, treasury changes, and proposals to the network.
- Cardano’s new Plomin hard fork went live on Wednesday, bringing a host of new features to Cardano and making the network ‘fully decentralized’.
Cardano has switched to ‘full decentralized governance’ after its new Plomin hard fork went live on Wednesday.
Previously Cardano’s blockchain network witheld various voting rights and proposals from ADA token holders.
With the hard fork now live, new features have been brought to ADA along with improved voter rights, treasury changes, and proposals to the network.
ADA holders gain new governance rights with Plomin hard fork
Cardano’s new Plomin hard fork went live on Wednesday, bringing a host of new features to Cardano and making the network ‘fully decentralized’.
Plomin introduced new holders’ rights, allowing all ADA holders the ability to vote on key network decisions and proposals.
From Cardano:
The Plomin hard fork is a key upgrade for Cardano, enabling full decentralized governance under the Voltaire era. It allows ada holders to delegate voting power to DReps for decisions on protocol updates, treasury withdrawals, and hard forks.
Such voting rights now extend to proposal voting, future hard forks, treasury withdrawals, parameter changes, and other governance decisions listed in Proposal CIP-1694.
According to reports, the governance action was sent to the network in December, giving ADA holders voting rights on how the Cardano treasury should be spent. The Cardano Foundation has supported the change and called it constitutional.
Tonight, Cardano evolves.
The Plomin hard fork takes effect, marking the transition to full decentralized governance. $Ada holders gain real voting power—on parameter changes, treasury withdrawals, hard forks, and the blockchain’s future.
A milestone in blockchain governance.
Cardano founder reacts
Cardano founder Charles Hoskinson congratulated the new upgrade in one of his latest livestreams and expressed gratitude to the community.
According to Hoskinson, the “best days” are ahead for the ADA community and Cardano, and welcomed the hard fork with positivity despite previous challenges between Hoskinson and the Cardano Foundation in 2024.
In recent weeks, Hoskinosn has been showcasing updates and changes made to Lace, a powerful web3 wallet for ADA traders.
Hoskinson has said Lace Wallet will be a “powerhouse” of the Cardano ecosystem, enabling new web3 features and better organization for decentralized applications and products on Cardano.
