Cardano, the Layer-1 block chain launched in 2017 by the co-founder of Ethereum Charles Hoskinson, activated its highly anticipated “Plomin” update on Wednesday, marking the beginning of the long-awaited movement of the ecosystem towards a decentralized governance system.
With the Plomin update now live, Ada Tokens headlines may shape the future of Cardano, including the vote of treasury measures and hard forks.
Plomin arrives only four months after Cardano implemented the hard bifurcation “Chang”, which launched many of the mechanisms that entered into force on Wednesday. (Hard forks are important updates made in a chain that makes the oldest versions of that block chain obsolete).
The biggest change that comes to Cardano with Pomin is the complete implementation of delegated representatives (DREPS), which will vote on government issues on behalf of Ada tokens holders. Previously, the three founding entities of Cardano, the Cardano Foundation, the Global Entrance Departure (IOHK) and Emurgo, were in charge of the changes in governance and the updates of the trigger chain. In the future, the keys they had and those responsibilities are delegated to the new Government groups of Cardano.
Before Pomin, the stake pool operators needed to update their nodes and approve the update with a 51%vote. As of this week, approximately 85% of the nodes were with the new version, which allowed the network to proceed with the changes.
As for what follows with Cardano, the community is already addressing a series of new problems to implement. “In summary, we want to make a faster cardan, we want to add some characteristics of privacy preservation and we want to add more utility for developers,” said Giorgio Zinetti, CTO of the Cardano Foundation, in an interview with Caindeesk. “Then development will be what the community wants.”
Read more: Cardano’s Chang Fork is launched, presenting governance in the chain
