By Solomon Odunayo
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.
Read Also: Cardano (ADA) Is Now 90% Decentralized. 100% Comes In a Matter of Days. What Does This Mean?
IOG tweeted, âLEVEL 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 youâŚâ
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… đ𧨠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 operatorsâ community.
Read Also: Cardano Africa Mission Will Make a Large Group of People Have Digital Identity âCharles Hoskinson
Tim Harrison noted:
âOur 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.â
Harrison stated that Cardanoâs transition to full decentralization continues through phased developments that include levels of block production from stake pool operators, peer-to-peer (P2P) network discovery, âgossipâ with peers exchanging information among themselves.
âDecentralization 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.â
Read Also: Charles Hoskinson Reiterates His Stance on Price and Value of Cardano (ADA)
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.
Follow us on Twitter, Facebook, Telegram, and Download Our Android App
HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.