Cardano (ADA) blockchain might soon receive staking guilds and staking portfolios in a bid to further decentralize the network, the creator of Cardano, who also doubles as the Chief Executive Officer of Input Output Hong Kong (IOHK), said in a YouTube video where he also explained that standards are very paramount in furthering the development of the Cardano ecosystem.
The IOHK boss disclosed that the Cardano blockchain desired stake pool operators’ guild that will negotiate deals and agree on common standards. He elucidated that the guilds would be organized through Decentralized Autonomous Organization (DAO) and there would be a vote to decide whether to form stake pool guilds or not after the launch of dcFund, a development which IOHK would be responsible for.
Another issue addressed by the Cardano founder was the delegation issue with the Networks’ new initiative “one-to-many,” an innovation that was proposed to allow ADA holders to delegate the coin into multiple stake pools to serve different purposes from a single wallet.
Hoskinson reiterated that the implementation of the “one-to-many” relationship would ease the implementation of the entire initiative and that a portfolio center could be introduced to replace the current delegation center within the Daedalus wallet.
IOHK is currently engaging two world-class hardware wallet producers which are Ledger and Trezor, in a bid to form guilds by technically incorporating a staking mechanism such as KES with small stake pools such as Multi-Sig, reported Hoskinson.
The respected cryptocurrency mogul claims to have a strong belief that the implementation of portfolios and staking guilds will in a short while become a reality on the Cardano ecosystem and that the Cardano development team would put up their best to make the software better by introducing as many new features as possible.
However, Hoskinson did not forget to praise the Cardano network by stressing the fact that the blockchain will soon become the number one blockchain in the crypto space, he argues that the current market rank of the network does not matter and what matters is that the Cardano blockchain is off the spiral, an achievement which will be difficult for competitors to near.
The renowned Mathematician submitted that the Cardano Blockchain might grow large and expand to become equal with Bitcoin.
Hoskinson Offers To Solve 51% Attack Issues on Ethereum Classic
In another development, NewsLogical had earlier reported that the Cardano founder, Charles Hoskinson, has recently offered to help solve the 51% attack issue on Ethereum classic. The Ethereum classic network had suffered continuous attacks from faceless hackers in recent times.
However, Hoskinson, who was reported to have been relating with Ethereum Classic for time immemorial declared that he has TwinCoin and Mantis Clients that could be used in tackling and preventing against future reoccurrence of the attack.