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Cardano Ecosystem

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11/06/2022

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Cardano Will Raise The Bar, The Community Anticipates Tech Giants Entering The Crypto

The prediction of “huge technologies” or tech goliaths invading the cryptocurrency industry to the point that the latter becomes “indistinguishable” from it is revisited by ADA’s community-focused Twitter account, ADA whale. While most cryptocurrencies will compete with these tech...

Cardano Will Raise The Bar, The Community Anticipates Tech Giants Entering The Crypto

The prediction of “huge technologies” or tech goliaths invading the cryptocurrency industry to the point that the latter becomes “indistinguishable” from it is revisited by ADA’s community-focused Twitter account, ADA whale.

Cardano Will Raise The Bar, The Community Anticipates Tech Giants Entering The Crypto

While most cryptocurrencies will compete with these tech behemoths, ADA whale asserts that Cardano will raise the bar because it is totally P2P decentralized and self-governed.

They’re going to get their heads stuck so deep up Big Tech’s behind that they will become indistinguishable from it. Again, I’ve been predicting and explaining that this would happen since the moment I started tweeting. Now sit back and watch it all play out

— ADA whale (@cardano_whale) November 5, 2022

They wrote:

“Tech giants will enter crypto. AppleCoin will have amazing smart contracts and offer regulated financial products. Most of crypto will be competing with them. By then, Cardano will be fully P2P decentralized and self-governed. Out of anyone’s grasp and a different beast altogether.”

The 3,229 stake pools managed by operators (SPOs), who keep an eye on the distributed nodes that keep the network running, are the heart of the Cardano network.

Cardano’s decentralization places stake pools managing the blockchain

Cardano Will Raise The Bar, The Community Anticipates Tech Giants Entering The Crypto

The important elements of this decentralization effort are to ensure the network is resilient to failure and that all distributed nodes are connected in a reliable and efficient manner.

Peer-to-peer (P2P) testnet launch in December 2021 marked the beginning of an important project for Cardano that will aid in its ongoing pursuit of total decentralization. P2P networking tries to improve data flow between nodes. The most anticipated update after the Sept. 22 Vasil hard fork was P2P networking, or decentralization of the networking layer.

The Cardano network will be completely decentralized once all P2P nodes are up and running, doing away with the requirement for centralized services that the network now makes use of. According to recent reports, the P2P development is feature complete and all required testing has been finished. The spread of P2P nodes will be slow, therefore the design and execution are being examined.

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