On the evening of January 29, the Cardano network will undergo the Plomin upgrade, marking a shift to fully decentralized blockchain governance, according to a statement from the Cardano Foundation.
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 Foundation (@Cardano_CF) January 29, 2025
“ADA holders gain real voting power—on parameter changes, treasury withdrawals, hard forks, and the protocol’s future. This is a significant milestone in blockchain governance,” the publication states.
Plomin introduces substantial changes to the decision-making mechanism within the community through the Cardano constitution.
The new governance structure comprises three main components: the Constitutional Committee, dReps, and staking pool operators. ADA cryptocurrency holders can participate in votes directly or through representatives, determining the network’s development direction.
Plomin was initially planned as the second part of the Chang upgrade, but was later expanded. The hard fork is named in honor of the late Cardano community member Matthew Plomin.
At the time of writing, ADA is trading at $0.92, having fallen by 4.3% over the past 24 hours.
Back in November 2024, Cardano founder Charles Hoskinson hinted at a collaboration between the blockchain and SpaceX.