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CoinDesk 2025-01-29 12:06:14

Cardano Will Transition to Full Decentralized Governance After Wednesday's Hard Fork, Cardano Foundation Says

Proof-of-stake blockchain Cardano will switch to decentralized governance later Wednesday after the Plomin hard fork takes effect, Cardano Foundation, a non-profit organization backing the project, said on X. "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," Cardano Foundation said . "[It's] A milestone in blockchain governance." Cardano's ADA token changed hands at 93 cents at press time, up 1.4% on the day, according to data from CoinDesk and TradingView. A hard fork is a non-backwards compatible change to the blockchain's programming. The Plomin hard fork needs Stake Pool Operators to upgrade their nodes and approve the upgrade with a 51% vote. As of last week, nearly 80% of nodes had elevated to the new version.

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