09.12.2021

Latest Governance System Will Give Cardano Community Members Control of 38% of All Minted Blocks

Stakers Reward on the Way to Validation Wallet. The blog by IOHK stated that a portion of the Staker’s reward is already en-route to the wallet of validators.

As long as ADA holders use exchanges that have announced staking compatibility, they should prepare to get their rewards. IOHK urged all stakers to confirm that the exchanges they are registered on are secure. Part of the post was as follows;

“First off, a fresh batch of #ADA rewards will be landing in the wallets of delegators. (If you are still holding your ADA on an exchange, you should have a rethink about that).”

The warning comes just in time as members of the cryptocurrency market are currently trying to recover following the KuCoin attack on the 26th of September that costs people over $250,000,000 in cryptocurrencies. Shortly after it happened, the price of Bitcoin BTC fell dragging the altcoins along. These raised a lot of questions about the true decentralization of cryptocurrencies. IOHK is working with Emurgo and the Cardano Foundation to make the Cardano blockchain truly decentralized and tamper-proof.

IOHK has started that Epoch 221 is a new level of decentralization that will allow ADA stakers to take charge of 38% of all minted blocks. This is all thanks to the successful implementation of the Shelley hardfork.

  • The Cardano Development Team is Still Working on Making the Blockchain 100% Decentralized
  • Thanks to the Shelley Hardfork, Users Can Maintain Control of 38% of all the Token Minted
  • The Cardano ADA Token is Still Struggling to Gain Bullish Momentum 

In recent times, the Cardano development foundation and all related bodies have put in extra effort toward the decentralization of blockchain. This is why IOHK recently talked about staking and decentralization. In their blog, they noted that the phase known as Epoch 221 will introduce two new features to the Cardano staking process. It will amend the distribution of community governance and staking rewards. Members of the Cardano community will be responsible for 38% of the minted blocks according to IOHK.

Cardano ADA Continues to Struggle

At the time of writing, the price of the ADA token was $0.095358. It is up by 1.21% against the USD and up by 0.58% against Bitcoin BTC. The trading volume over 24 hours was $701,879,966 and the market capitalization was $2,966,819,151.

The token has been struggling for the last few weeks and has been unable to hold the line above the $0.1000 level. The token has been bearish despite all the positive developments on the Cardano blockchain. Less than two weeks ago, the Cardano foundation partnered with the United Nations to promote the development of blockchain-based products that will help the UN reach its goals.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

Spread the love

Leave a Reply

Your email address will not be published. Required fields are marked *