Skip to content

Cardano (ADA) announces 100% decentralization for block production

Cardano achieves 100% decentralization for block production

The Cardano blockchain has reportedly attained 100% decentralization status giving the community full control in block production. 

The decentralization was announced by IOHK, the blockchain research and development firm behind Cardano which indicated that the process has been gradual and lasted for seven months.

According to IOHK Product Director Aparna Jue, the gradual process allowed developers to monitor and optimize the network. At the moment, the network’s 2,200 community pools will be responsible for producing blocks of data on the blockchain.

Focus on governance and network

IOHK outlines Cardano’s decentralization process as three main pillars, including block production, networking, and governance. The decentralization now shifts to the platform’s governance and the network.

Jue commented on the significance of the decentralization milestone: 

“Achieving decentralization of block production is significant not just for Cardano but also the wider blockchain industry. This is an important step towards full decentralization, and living up to the promises of blockchain technology by creating a global system which is truly independent of central authorities, pushing power to the edges.”

Jue further stated that Cardano’s decentralization sets the network miles ahead of platforms like bitcoin. She notes that with a few mining pools running bitcoin’s block production, there is a chance for a conflict of interest. 

IOHK notes that decentralization is vital to establishing a global financial operating system without the need for intermediaries. In return, it promotes financial inclusion, especially for the unbanked population.

By press time, Cardano had gained by 2.53% in 24 hours trading at $1.24, according to data provided by CoinMarketCap.

Cardano (ADA) price performance YTD. CoinMarketCap data.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Read Next:

Weekly Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts