IOHK dropped a really exciting tweet that has the Cardano community in awe.
Check out the message that they shared:
D-DAY CONFIRMED: Today, we have just successfully submitted an update proposal to the #Cardano blockchain, handing over full responsibility for block production to the stake pool operator community on March 31st. This is what #Decentralization looks like. Onward! @Cardano $ADA pic.twitter.com/lC5ZEfZd5V
— Input Output (@InputOutputHK) March 25, 2021
Someone said: ‘I don’t quite get it. How should it be decentralized in any way when “most of the people” will be staking on the exchanges? I’m really looking forward to an explanation if there is one. Have you solved this problem?’ and a follower answered: “With the K. That’s how they fix it.”
Another follower said: “It means new blocks will be produced by independent pools. This means that it is now decentralised and the team is not responsible for the production of tokens. You can stake your ADA and receive a portion of ADA as rewards for your contribution in a staking pool.”
Cardano vs Ethereum
The popular crypto analyst Lark Davis weighs in on the Cardano vs Ethereum debate. He addresses the pros and cons of each smart contract platform.
“Ethereum is maintained by the largest decentralized development community in the blockchain space. Way ahead in terms of developer – like miles ahead of the nearest chain, which is Bitcoin, and so far ahead of the other smart contract platforms as to be barely even a relevant metric due to Ethereum’s supremacy in this regard,” he said as cited by the Daily Hodl.
Davis said that ADA uses a newer and easier coding language that will open the blockchain tech to more users and use cases. But he also said that IOHK, the tech company behind Cardano, does not create a fully functional smart contract environment on Cardano yet.