Source: Aleksandra Sova – Shutterstock
- Parameter d falls below 0.5 and Cardano networked block production reaches majority community participation.
- IOHK roadmap sets the goal to make Cardano 50 times more decentralized than Bitcoin.
On October 28th, IOHK CEO Charles Hoskinson announced block production parity for the federated OBFT nodes and stakepools. At that time, parameter d was set at 0.5. According to an IOHK announcement on November 6th, parameter d has been reduced again. Cardano has reached a new milestone in its decentralization:
A little under 5 hours from now, we’ll pass another important milestone for #Cardano #decentralization. A truly… epochal one (sorry). At 21:44 UTC today the stake pool community will take over a majority 52% of all block production. Over to you. Let’s keep rolling.
One of the three components that the company behind the development of Cardano has indicated as part of the decentralization of the network, parameter d measures the decentralization of block production. When d is equal to 0, the full decentralization of Cardano will have been achieved. Block production will be in the hands of the community. As Hoskinson stated, the fall of d below 0.5 represents the “imminent decentralization” of Cardano.
Will Cardano be 50 times more decentralized than Bitcoin?
As IOHK has set out in the Cardano roadmap, the goal is to increase the decentralization of the network. ADA users and holders should be in full control of the governance at Cardano. Therefore, they have proposed to make Cardano 50 times more decentralized than Bitcoin, Ethereum, and other blockchains. IOHK Chief Technical Officer Kevin Hammond stated:
This journey, which began with Shelley and the implementation of the d parameter, will take Cardano throught a path of evolutionary stages in which the network will become progressively more and more decentralized, as d decays.
The last era of Cardano, Voltaire, will make the network completely self-sustaining. When that milestone is reached, Cardano will have a voting and treasury system. In addition, the community will be able to directly influence the governance model with actions and votes. It is also planned that users will be able to intervene in Cardano with software, technical improvements, funding. About Voltaire, IOHK stated:
Voltaire is IOHK’s way of establishing this capability, allowing the community to maintain the Cardano blockchain while continuing to develop it by proposing and implementing system improvements. This puts the power to make decisions in the hands of ada holders.
The IOHK has already begun the transition. The company is actively developing a decentralization mechanism for Voltaire. Its first step was the launch of the Catalyst project with the aim of contributing to “the decentralized and democratic future of Cardano”.
Read More: Cardano to reach epochal Milestone while community takes over network