Cardano (ADA) is much more decentralized than all cryptocurrencies

Cardano (ADA) is much more decentralized than all cryptocurrencies

Cardano founder Charles Hoskinson believes that the decentralization of the project would be a “wake-up call” for the industry.

In a current update to the community, Hoskinson said that Ada was "much more decentralized" than all cryptocurrencies on the market.

• The managing director emphasized that the Cardano Improvement Proposal (CIP-1694)-a mechanism for on-chain government that will underpin the network phase of the network-will prove itself as groundbreaking in the decentralization debate.
• The proposal will enable Cardano users to submit a governance campaign that is ratified by three groups-a constitutional committee, a group of delegation representatives (DREPS) and Stake pool operators (SpoS), which ensures that the community has the last word.
• CIP-1594 is still up for discussion and is expected to be published in July of this year.
• meanwhile Hoskinson claimed that the approach of Cardano could possibly contribute to increasing decentralization that the project becomes part of the regulatory framework for cryptocurrencies.
• He said that decentralization metrics could become a decisive part of the regulatory standards, and added that regulatory authorities would ultimately treat a crypto project with more decentralization as a protocol or goods.
• Regardless of this, the Cardano network suffered a short failure in January of this year due to a "temporary anomaly" that was remedied within minutes.
• Recently, Input Output Global (IOG)-the organization behind the development of the blockchain-has started a Valentine upgrade for its standards for efficient cryptography (SECP) primitive to enable the use of a wider pallet of native multi-signature designs for the safe development and cost-effective dapps.

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