Plomin Hard Fork Is Predicted To Influence ADA Prices

JAKARTA - Cardano (ADA), one of the largest proof-of-stake (PoS)-based blockchain networks, plans to launch a hard fork of Plomin. On January 18, 2025, Global Output Input (IOG), the main developer of Cardano technology, officially gave the green light for the activation of hard fork Plomin on the main network.

For additional information, hard forks in cryptocurrencies are fundamental changes to blockchain network rules giving birth to two separate versions of blockchain. To understand this, imagine a two-branched road: one branch is an old rule, and the other branch is a new rule. This is the analogy of hard forks in crypto.

The IOG confirms that all requirements set by the Constitution While it has been met, paves the way for the activation of Plomin. This hard fork is expected to bring Cardano to a new chapter in its ecosystem, with stronger and community-based governance.

The Plomin activation involves a rigorous technical process. According to the IOG, as many as 85% of the stake pools representing the active stake have updated their software to Cardano's latest version (10.1.3 or 10.1.4). This version is designed to comply with the new rules set by the protocol, in accordance with the HARDFORK-04 technical guidelines.

The Hard Fork Intersection Working Team has also provided a readiness report ensuring all technical requirements are met. This step marks Cardano's important transition to the Plomin phase as a significant constitutional step.

Cardano's DeFi Ecosystem Grows Rapidly

In addition to technical advances, Cardano's Decentralized Finance (DeFi) ecosystem also recorded significant growth. The data shows that Cardano's total value of assets (Total Value Locked/TVL) in various DeFi protocols increased from US$430 million (around Rp. 6.97 trillion) in early January to US$538 million (around Rp. 8.72 trillion) today, up 25% since the beginning of the year.

The three main platforms, namely Liqwid, MinSwap, and Indigo, make the biggest contribution, covering more than 60% of the total TVL. This growth reflects the growing interest of the community and investors in the potential of the Cardano ecosystem.

Despite showing a positive trend in ecosystem development, ADA prices have currently decreased by 4.8% in the last 24 hours, at the level of 1.07 US dollars (around Rp. 17,334). However, the community remains optimistic that the technical achievements such as Plomin will strengthen Cardano's position as one of the leading blockchain networks in the world.