Cardano (ADA) Is Now 98% Decentralized. 100% Comes On 31st March. What Does It Imply?
Cardano’s journey to full decentralization started on 30th July 2020, after the successful integration of Shelley testnet to mainnet. Going by the recent report, the full decentralization of the network will come in a matter of days. According to...
Cardano’s journey to full decentralization started on 30th July 2020, after the successful integration of Shelley testnet to mainnet. Going by the recent report, the full decentralization of the network will come in a matter of days.
According to IOG, the software firm behind the development of Cardano (ADA), the network of the smart contract platform is currently 98% decentralized, and in a few days’ time, 31st March precisely, the network will be fully decentralized when the D parameter becomes 0.
IOG tweeted, “Enjoy this view while you can, since it is the penultimate time you’ll see just two figures. In just over an hour, 98% of Cardano block production will shift to the SPO community (up 4% this time). We’ll reach 100% on March 31. D=0 Day. Onward to Decentralization.”
Enjoy this view while you can, since it is the penultimate time you'll see just two figures. In just over an hour, 98% of #Cardano block production will shift to the SPO community (up 4% this time). We'll reach 100% on March 31. D=0 Day. Onward to #Decentralization pic.twitter.com/heGsnG45Zo
— Input Output (@InputOutputHK) March 26, 2021
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What Does 98% Decentralization of Cardano (ADA) Apply?
As the report stated above, on 31st March 2021, Cardano (ADA), will see D, the parameter that governs what percentage of transactions are processed by the genesis nodes, reach 0.
This accomplishment will make the responsibility for block production become fully decentralized. This implies that the Cardano network of over 2,000 community pools will be solely responsible for producing blocks.
Moreover, D was set to an initial 1.0 when Shelley was officially implemented in late July 2020. Before Shelley, IOG’s network of federated nodes was producing every block, but this will completely change as scheduled for 31st March when D becomes 0.
So, the fact that Cardano is now 98% decentralized means that of all new blocks being created, 98% of them are made by stake pool operators and that only 2% are being created by federated pools of the development firm IOG.
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Therefore, as soon as the D parameter reaches 0, it will be confirmed that all new blocks are made by stake pool operators, indicating that the Cardano network is 100% decentralized.
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