Sirlibz
An announcement shared by IOHK, the parent company of Cardano blockchain shows that over 50% of all blocks on the Cardano blockchain network are now being validated by public stake pools. Cardano began its journey to decentralization long ago and with the implementation of Shelly Mainnet it was actualized. The Shelly hard fork allows it’s native token (ADA) holders to delegate their share to community controlled stake pools and earn staking rewards while at it.
Before the Shelly hard folk, centralized IOHK nodes had full control of the production of blocks during the Bryon era. The centralization has been decreasing with the continuous development and implementation of Shelly Mainnet. After Shelly Mainnet reached epoch3, the very first block was minted by a stake pool and the community is expected to mint the majority of all blocks from Friday, Nov 6.
Kelvin Hammond, IOHK’s technology manager stated that the end goal is to have all blocks produced by stake polls thereby making the network and governance completely decentralized.
“IOG will continue to run its own stake pools that will produce blocks in line with the stake they attract, just like any other pools. But these will no longer have any special role in maintaining the Cardano network. It will also, of course, delegate a substantial amount of its stake to community pools. Simultaneously, the voting mechanism will be enabled, and it will no longer be possible to increase d and ‘re-centralize’ Cardano.
Cardano has already reached 1,208 stake pools, even surprising it’s initial target of 1,000.
Cardano
Cardano is a cryptocurrency network and open source project that aims to run a public blockchain platform for Smart contracts. On their official website it reveals”Cardano is a blockchain platform for coin markers, innovators and visionaries “Cardano is a blockchain platform for changemakers, innovators, and visionaries, with the tools and technologies required to create possibility for the many, as well as the few, and bring about positive global change.
