Cardano will be different as community predicts entrant of big tech into crypto
Cardano’s community-focused Twitter account, ada whaleRevisits the prediction of “big tech” or tech giants entering the crypto industry, so that the latter becomes “impenetrable” from it.
ADA whale predicts that while most cryptocurrencies will compete with these tech giants, Cardano will raise the bar by being fully P2P decentralized and self-governed.
He wrote, “Tech giants will enter crypto. AppleCoin will have amazing smart contracts and offer regulated financial products. Most crypto will compete with them. Until then, Cardano will be fully P2P decentralized and self-governing. of incomprehensible and a different animal altogether.”
At the heart of the Cardano network are 3,229 stake pools run by operators (SPOs), who oversee the distributed nodes that keep the network operational. This is because the decentralization of Cardano puts the responsibility for running the blockchain in the hands of stake pools.
Similarly, reliable and efficient connections between all distributed nodes and ensuring that the network is resilient to failure are key components of this decentralization drive.
With the launch of the peer-to-peer (P2P) testnet in December 2021, Cardano began a significant project to help its continued push toward complete decentralization. P2P communication aims to enhance information transfer between nodes.
P2P networking, or decentralization of the networking layer, is the most anticipated upgrade after the Vassil hard fork incident that occurred on September 22. Once all P2P nodes are operational, the Cardano network will be fully decentralized, eliminating the need for centralized services currently used by the network.
Recent reports suggest that the P2P development is feature complete and that all necessary testing has been completed. The design and implementation are being reviewed because the rollout of P2P nodes will take place gradually.
