Cardano to raise bar as tech giants enter into Crypto November 8, 2022
Cardano to raise bar as tech giants enter into Crypto<br><br><br>
Cardano to raise bar as tech giants enter into Crypto
ADA Whale, Cardano’s community-focused Twitter account predicts in their August 2021 Twitter post, “Tech giants will enter crypto”. On Novemeber 5. 2022 they revisited their prediction and Tweeted, “They’re going to get their heads stuck so deep up Big Tech’s behind that they will become indistinguishable from it.”
The public blockchain platform’s community also predicted last year in the same Tweet that where most cryptocurrencies will compete with the leding tech companies, Cardano will raise the bar by being fully P2P decentralized and self-governed.
The Tweet said, 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 decentralised and self-governed. Out of anyone’s grasp and a different beast altogether.”
In the Cardano network, there are 3,229 stake pools that run by operators (SPOs). These SPOs oversee the distributed nodes that keep the network operational. The reason for this is, the decentralization of Cardano, which puts the responsibility for running the blockchain in the hands of stake pools. This makes this decentralization drive more reliable, build efficient connectios between all the distributed nodes and making sure the network is resilient to failure.
To help its continued push toward complete decentralization, Cardano started a significant project with the launch of the peer-to-peer (P2P) testnet in December 2021.
P2P communication aims to enhance information transfer between nodes. After the Vasil hard fork event that occurred on Sept. 22, P2P networking, or decentralization of the networking layer, is the most anticipated upgrade. The Cardano network will be entirely decentralized, eliminating the need for centralized services that the network currently utilizes, once all P2P nodes are operational.
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.