Plomin Will Bring Decentralized Governance to Cardano
Date: 2025-01-30 Author: Henry Casey Categories: BUSINESS
“ADA holders will now have real control over the future of the network, from parameter changes and treasury operations to hard forks and protocol development. This is a significant step in the evolution of blockchain governance,” the statement said.
The hard fork introduces a revamped decision-making mechanism based on the Cardano constitution. The new model includes three key elements: the Constitutional Committee, dReps, and staking pool operators. ADA holders will be able to vote on their own or through trusted representatives, influencing the direction of the network.
Plomin was originally conceived as the second phase of the Chang upgrade, but over time the project has expanded. The hard fork was named in memory of Matthew Plomin, an active member of the Cardano community.
ADA is currently trading at $0.92, down 4.3% over the past 24 hours.
Earlier in November 2024, Cardano founder Charles Hoskinson hinted at a possible blockchain partnership with SpaceX.
