On January 30, 2025, Cardano activated its significant 'Plomin' upgrade, marking a pivotal shift towards decentralized governance. This upgrade empowers ADA token holders to vote on treasury measures and governance issues, a transition from previous governance controlled by the Cardano Foundation, IOHK, and Emurgo.
The Plomin upgrade follows the 'Chang' hard fork implemented four months prior, which set the groundwork for the current changes. A crucial aspect of Plomin is the introduction of Delegate Representatives (dReps), who will represent ADA holders in governance decisions.
As of this week, approximately 85% of stakeholder nodes have upgraded, surpassing the necessary 51% threshold for the network to proceed with these changes. Looking ahead, the Cardano community aims to enhance the network's speed, privacy features, and developer utility.