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The Cardano blockchain is transitioning to a decentralized form of governance today through the activation of the Plomin hard fork. The hard fork will go live at around 9:45 PM GMT on January 29, 2025.
Tonight, Cardano evolves.
— Cardano Foundation (@Cardano_CF) January 29, 2025
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.
A milestone in blockchain governance.
Following the hard fork, delegated representatives (DReps) will be able to vote on Cardano governance actions using their own $ADA, as well as $ADA tokens delegated to them by individual holders. Here are the types of governance actions that DReps will be able to vote on:
Image source: Emurgo’s Plomin hard fork explainer.
The Plomin hard fork is currently not affecting the $ADA price
Cardano has had a fairly modest start to the year, gaining 5.7% against the US dollar since January 1. Currently, the upcoming Plomin hard fork doesn’t seem to be having much of an effect on the $ADA market, as $ADA is down 2.7% in the last 24 hours. The total cryptocurrency market capitalization has decreased by roughly 1.9% in the same time frame.
$ADA, which is down more than 70% from its all-time high prices, could have a very successful year according to our Cardano price prediction. Currently, the algorithmic forecast is expecting $ADA to reach as high as $4.40 in the next 12 months. This would represent an increase of over 380% compared to $ADA’s current price.
There’s plenty in store for Cardano in 2025
Earlier today, Cardano founder Charles Hoskinson shared the 2025 roadmap published by Input | Output (IO), the company leading the technical development of the Cardano blockchain protocol. The roadmap outlines IO’s key goals for 2025 based on three main areas of focus:
- Scalability
- Usability and utility
- Interoperability and extensibility
Cardano Roadmap for 2025 https://t.co/sLqxoLwQcv
— Charles Hoskinson (@IOHK_Charles) January 29, 2025
Some of the most exciting initiatives included in IO’s 2025 roadmap include the privacy-focused Midnight partner chain, advancements in smart contract development tools, the Ouroboros Leios consensus protocol and the Hydra layer 2 scalability solution.