We have updated Cardano to the new version – Plomin Hard Fork, one of the most significant steps in the network’s development, allowing users and developers to take an active role in its future.
Let’s dive into the new era of an ADA blockchain.
What is Cardano?
Cardano is a third-generation blockchain designed to ensure security, scalability, and decentralized governance. Based on scientific research and proven engineering solutions, Cardano utilizes the Ouroboros consensus mechanism, which enables high network efficiency with low energy consumption. Its key advantages include flexibility, reliability, and the ability to execute complex smart contracts.
What does the Plomin Hard Fork update bring?
Plomin Hard Fork is an update to Cardano aimed at implementing full decentralized governance. It includes:
- Full implementation of the decentralized governance mechanism: ADA holders can now delegate their votes to DReps (Delegated Representatives) are associated with a consensus mechanism where users delegate their voting rights or governance to nodes that act on their behalf.
- Voting on key network parameters: DReps will be able to vote on protocol parameter changes, treasury withdrawals, and the initiation of new hard forks.
- Upgrade for stake pool operators (SPOs): To activate the hard fork, 51% of stake pools must upgrade their nodes. As of January 22, 78% of network nodes had already been upgraded.
- Completion of the transition to the Voltaire phase: This is the final step toward full autonomy of the Cardano network, where governance is fully transferred to the community.
- The first blockchain with on-chain governance: With this update, Cardano becomes one of the first blockchain platforms where all governance decisions will be recorded directly on-chain, enhancing transparency and accountability among participants.
Now, the entire Cardano governance ecosystem will be available for use, and the community will be able to vote on adopting the Cardano Constitution, which will establish the fundamental principles of network operation in the future.
Conclusion
Plomin Hard Fork opens new opportunities for developers, stake pool operators, and ADA holders, providing them with the tools to participate in the future of the ecosystem.
NOWNodes is a blockchain-as-a-service solution that lets users get access to Cardano Nodes and blockbook Explorers via API. The service provides a high-quality infrastructure that is quick, cost-effective, and reliable. We have Service Quality Standards available for all partners.
Cardana are under 24/7 surveillance – their availability and relevance are constantly being monitored. Get access to ADA Nodes NOW:
