Cardano (ADA), one of the significant proof-of-stake (PoS) networks, moves nearer to its next crucial goal en route to fully distributed management. Input Output Global (IOG), a key technology development entity for Cardano (ADA), expresses unwavering backing for the upcoming Plomin hard fork activation.
Cardano’s IOG pledges support to Plomin upgrade
On January 18, 2025, the Cardano (ADA) blockchain achieved a significant milestone in its Plomin hard fork plan. Today, Input Output Global (IOG) officially authorized the activation of Plomin on the main network. According to IOG’s confirmation, this indicates that all necessary conditions for the governance action as outlined by the Interim Constitution have been fulfilled.
Great news! Input | Output has just approved the Plomin Hard Fork governance proposal today. After careful evaluation by our technical team, all necessary requirements for a hard fork as outlined in our Interim Constitution have been fulfilled. For more details, please refer to…
— Input Output (@InputOutputHK) January 17, 2025
IOG officials emphasize that before activating the Plomin upgrade, thorough internal and external technical evaluations and assessments have been carried out.
Furthermore, approximately 85% of active stake pools have updated their Cardano client node to at least version 10.1.3 or 10.1.4, which supports the intricate consensus rules required for the advanced protocol version as detailed in Hardfork-04 guideline.
Additionally, IOG stated that the prerequisites have been validated through preparedness reports from Intersect’s Hard Fork Task Force.
As such, Cardano’s (ADA) transition toward the Plomin phase is now deemed constitutional.
Cardano (ADA) TVL up by 25% YTD, data says
By January 2025, Cardano (ADA) took a significant stride towards completely decentralizing its governance. The ADA staker community is now prepared to endorse the Constitution, a crucial foundation for the upcoming phase of the ecosystem’s development.
The rising popularity of the Cardano (ADA) network can be seen in the increasing amount of value being held in decentralized finance (DeFi) platforms that use ADA as their currency.
The total value locked in Cardano has significantly increased from $430 million to $538 million since January 1, 2025. Approximately 60% of this growth can be attributed to the DeFi platforms Liqwid, MinSwap, and Indigo.
Currently, the price of Cardano (ADA) is trying to hold steady slightly above the $1.07 mark, representing a decrease of approximately 4.8% over the past 24 hours.
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2025-01-18 16:58