The post Plomin Hard Fork: Will Cardano’s New Governance Survive? appeared on BitcoinEthereumNews.com.

Cardano’s (ADA) highly anticipated Plomin hard fork goes live today, introducing decentralized governance to the proof-of-stake blockchain network. The upgrade requires Stake Pool Operators to update their nodes and approve the change with a 51% majority vote. With nearly 80% of nodes already upgraded, the transition marks a pivotal moment in Cardano’s evolution. Following its Plomin hard fork, Cardano achieved full decentralized governance by giving ADA token holders voting rights to decide major blockchain matters. Through voting mechanisms, stakeholders play a crucial role in determining changes to parameters, treasury application destinations, and network improvement plans that will guide ecosystem development. The implementation marks a key development toward Cardano’s mission of independent governance that still supports effective operational choices. – Advertisement – Charles Hoskinson as Cardano’s founder, has campaigned for decentralized governance models because he believes existing blockchain methods fall short. Earlier, Hoskinson had voiced his opposition to Ethereum’s governance model because it granted too much power to co-founder Vitalik Buterin. Decision-making responsibilities within Cardano’s system are distributed between users from the community and technical professionals, along with democratically elected representatives. The newly established platform Intersect will work with community leaders to provide evidence-based information that supports governance choices. Cardano’s technical review team consists of researchers, engineers, and blockchain developers who preserve the technical correctness of governance decisions. The collaborative initiative demonstrates Cardano’s dedicated approach to combining decentralized control with professional leadership guidance. ADA Struggles Below $1.00 Despite Major Upgrade After the major update, ADA still faces an ongoing price downside, remaining below $1.00 at $0.91. The token’s market capitalization remains at $32.5 billion as market conditions remain erratic. New interest from traders has been observed in ADA futures markets, which demonstrates heightened investor involvement. Markets maintain ADA’s price position remains equal to its 2021 value before triggering its substantial upward…

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Filed under: News - @ January 30, 2025 2:27 pm