Don’t Fade Cardano. Cardano has reached the Plomin hard fork, in its attempt to achieve truly decentralized power. This is another major upgrade that it is releasing and is called Plomin and it is for enhancing the decentralization. They have been building up expectations for ‘full-blown decentralized governance’ for some time now and this hard fork may just deliver it. In essence, Plomin is the next step in the process of handing over the control of the platform to the users of the Cardano platform – there is no need for the top-down approach.
What’s the Big Deal?
If you are not familiar with the term ‘hard fork,’ it means changes to the network level, and Plomin is the kind that transfers a significant number of rights from the development team and the owners of Cardano (apologies, everyone) to the token holders. The end goal? A purely democratic model of management where the ability to implement significant alterations or policy alterations is reserved for the users of the platform and not a few decision makers.
Why Should 100x Care?
We are always looking for the real things in decentralization. Although, every new chain claims to have ‘community-driven governance,’ not many of them do it in practice. The Cardano Plomin fork could be the beginning of the end that would demonstrate that they can back up their talk—provided that the community takes the time to vote.
Key Points:
- The consequences of centralized decision-making are that more functions are moved to the on-chain voting processes.
- Some of the benefits of the new improved process include:
- Reduced Time Frame — There are fewer bottlenecks in the process, and this means that there will be fewer long and tedious forking processes.
- Greater Responsibility: The users cannot accuse the developers of being the cause of the situation if they are not happy with the result— if you don’t vote, you don’t get a say.
The 100x Angle
If Plomin is able to meet the expectations, it will strengthen the position of Cardano as a platform that is not just hype. That may very well attract more developers, larger projects, and, of course, more funding. Nevertheless, complete decentralization is a rather ambitious goal. We will be paying attention to whether the ordinary stakeholder is actually active or if the whales are still the ones calling the shots behind the scene.
Final Word
The team at Cardano is pulling out all the stops in an effort to prove that they are more than just talk when it comes to empowering the community. If Plomin is successful, we may be able to see how a network should handle crucial changes without a hitch—something that every cryptographic network in the wild can benefit from. Stay frosty, 100x fam – this could be the beginning of governance, or just another fork that will be forgotten. We will know soon enough.
