$ADA: Popular SPO Explains Why ‘It Is Impossible To Stop Cardano
On Thursday (August 18), the highly popular and respected operators of the Cardanians $ADA stake pools explained why “it is impossible to stop Cardano.”
Yesterday, they tweeted that the reason the Cardano network cannot be stopped is because it is so decentralized:
It is impossible to stop #Cardano since there are thousands of block producers around the world.— Cardanians 🚀 stake w CRDNS (@Cardanians_io) August 18, 2022
On 17 February 2020, Cardanians published a blog post (titled “The Challenges of Decentralization for Cardano”), which stated:
“Ideally, the roles of participants in the protocol ecosystem should not be overly divided. Consensus decision-making power should be distributed to as many independent entities as possible…
“That is why Cardano counts on the existence of pools from the outset, and through the concept of saturation, it will strive to limit their size and ensure that there are as many pools as possible. It should be easier and less expensive to build a new pool. The protocol itself will take care of distributing rewards to all participants in the consensus. Pool operators will not be responsible for this…
“All network users are stakeholders and can participate in network consensus. The special role is the pool operator who will be responsible for creating new blocks. PoS consensus uses its own coins, which can be beautifully used to distribute power. Those who hold more ADA coins are likely to be more interested in the quality of decentralization and protocol security. With the number of coins held, power within the network and project consensus increase proportionally.
“Every ADA coin holder thus becomes, in Bitcoin terminology, a miner. In PoS terminology, a coin delegator (staker). Pool operators are also stakeholders and will use coins to establish and strengthen their pool. Other stakeholders can select a pool and delegate coins. This increases the power of the pool...
“The advantage of PoS over PoW is that all coin holders, no matter how many, can participate in the network consensus and multiply their wealth. All stakeholders can thus influence the quality of decentralization. Decentralization will naturally increase as ADA coins are distributed among people. And the demand for coins can be large, as holding provides passive income. Because people will want to secure the passive income for as long as possible, they will oversee decentralization through the delegation of coins to an honest pool…
“The more people oversee, ie hold and delegate ADA coins to pools, the more decentralized the network will be. Consensus decision-making power is thus much more distributed among a large number of people than we can observe in PoW. For the delegation of coins, it is not necessary to buy expensive hardware and users do not risk losing money. All you need are coins that are delegated to the pool through your wallet. After delegation, the wallet can go offline.“
Featured Image via Unsplash
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