Preparations are underway for a substantial update to Cardano, with anticipation of the Plomin hard fork scheduled for January 2025. Recently, Intersect – an organization within the Cardano community – has shared some updates on this matter.
According to previous reports, the governance proposal for the Cardano mainnet’s Plomin hard fork was submitted on December 20th online. This proposal signifies the culmination of the initial stage of blockchain governance. If approved, this proposal will implement full governance as outlined in CIP-1694, effectively concluding the technical bootstrapping phase for the mainnet.
— Intersect (@IntersectMBO) January 8, 2025
In simpler terms, the latest news from Intersect indicates that they expect the Plomin hard fork to take place on the Cardano mainnet in January. The exact time for this update is tentatively set within certain epochs, but it’s important to note that these dates can only be confirmed if the stake pool operators (SPOs) and Intersect Constitutional Committee (ICC) approve the governance action. Voting must be completed by January 14, 19, or 24, with a final decision expected on January 29, 2025.
This change aligns with Cardano’s future ambition to transform into a completely autonomous and community-led blockchain. Once this decision-making process is approved, Cardano steps into an epoch of decentralized management.
Exchanges and dApps signal readiness
The Cardano community is keeping a close eye on the advancements in governance and preparations for the Plomin upgrade. Notably, Intersect’s latest report offers insights into the readiness of decentralized applications (dApps) and exchanges. It specifically highlights dApps and exchanges that have expressed their preparedness for the upcoming hard fork event.
Lists the initial group of decentralized applications (dApps) that have submitted pull requests for integration into the Plomin hard fork and confirmed their readiness. This group consists of Danogo, Fluid Tokens, Genius Yield, Minswap, Snekdotfun, Splash, Summon, Tempo, and Wanchain.
This version maintains the original meaning while using simpler language for easier comprehension.
Various platforms such as Bitrue, CEX.IO, Coinbase, Crypto.com, Gate.io, Kraken, OKX, and Upbit have expressed their preparedness for a specific event.
Presently, following the January 6th update concerning the Plomin upgrade, about 79% of SPOs (Stakeholder Proposal Oversight) are mining blocks using Node version 10. Out of the 213 SPOs that have cast their votes so far, 209 have chosen “yes” for the upgrade, which equates to 17% of the total stake. For the Plomin hard fork to be approved, a minimum of 51% of the stakeholders must vote in favor. The governance action for this update will end on January 29th.
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2025-01-08 19:35