The moment that the Cardano community has been waiting for has finally arrived. According to IOG, the Cardano network is now fully decentralized.
This was communicated moments ago via the official Twitter handle of the software development company. Parameter D has now become zero, which implies that all the block production on the Cardano network has now become the sole responsibility of stake pool operators.
IOG tweeted, “LEVEL UP! So there we have it, 100% decentralized block production on Cardano. Thank you to each and every SPO and developer out there who has brought us here, helping build, run & grow Cardano. This is a great moment. And we’re still just getting started. Over to you…”
LEVEL UP! So there we have it, 100% decentralized block production on #Cardano.
Thank you to each and every SPO and developer out there who has brought us here, helping build, run & grow #Cardano. This is a great moment. And we're still just getting started. Over to you… 🚀🧨 pic.twitter.com/MexAv3HhNP
— Input Output (@InputOutputHK) March 31, 2021
What Decentralization Means To Cardano Network
Tim Harrison, the Marketing & Communications Director at Input Output Global (IOG) has described decentralization as the delegation of power from a central authority to a wider group of bodies. But in the concept of blockchain and cryptocurrency, decentralization is deeper than what the definition portrays.
Block production on Cardano has just been fully decentralized. The federated network of seven core nodes by IOG, Emurgo, and the Cardano Foundation will no longer be responsible for block production. Every block on will now be produced by the stake pool operators’ community.
Tim Harrison noted:
“Our SPO community has been instrumental in bringing Cardano to this point. When d, the decentralization parameter, reaches zero, SPOs will become responsible for creating all blocks on Cardano.”
Harrison stated that Cardano’s transition to full decentralization continues through phased developments that include levels of block production from stake pool operators, peer-to-peer (P2P) network discovery, ‘gossip’ with peers exchanging information among themselves.
“Decentralization is a core value and driver for Cardano, and we are far from alone in this. The mainstream financial world has recognized that blockchain and the decentralized finance (DeFi) technology it enables has the potential to spawn a new financial system as revolutionary as the internet itself. And that is just part of a trend towards decentralization.”
He pointed out that the open protocols that connect renters and providers of data storage that is available for everyone are poised to disrupt the dominant centralized cloud service providers such as Amazon and Microsoft. He said similar trends also affect video and communication networks and gaming.