🔥 Cardano introduces Staking with a new Hardfork ... But we already have staking here!

in HODL2 months ago

Hello!

Today I was reading that Cardano introduced Staking with a new Hardfork called "Shelley". It seems that investors are happy with this kind of developments because the price of the cryptocurrency surged a 180% in the last 3 months prior to the deployment.

But wait a minute...

They are really celebrating to have the capacity of Staking tokens?

We really have this capability in HIVE since the beggining...
Why we are not telling everyone this?

Well, I know that Cardano is a "smart-contract" blockchain but I am not sure if we are underestimating HIVE and his amazing possibilities.

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Source

DPoS vs PoS

HIVE uses a Delegated Prof of Stake consensus algorithm. In this consensus the top20 elected witnesses have the responsibility to run the blockchain and broadcast transactions. (Of course this is a simplified way to explain it).

Cardano's algorithm is a PoS and works slightly different. I've found a really good explanation of their functionality:

Cardano’s PoS system uses a randomized process to elect a stakeholder to produce a block, based on the weight of the stake recorded in the ledger. A block of time in the Cardano blockchain is an epoch and the individual units of time within an epoch are slots. Not all stakeholders have the expertise to produce a block if elected, so, stakeholders can pool their resources by delegating their stake to stake pools. The managers of these stake pools, known as stake pool operators, manage block production during slots where stake delegated to them is elected by the Ouroboros algorithm.

Source

According to Coindesk Cardano will reach consensus equilibrium once 1,000 stake pools have been established, 485 of which are currently live.

They still have a lot of work to do. The team of IOHK, a technology company working on Cardano, seems really professional and they are delivering solutions.

It is expected that the development of Cardano will continue in the coming months, the next milestone in development is by the end of this year.

Enjoy! 😊


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Hello there @resiliencia,

Nice post and indeed, most crypto went up due to staking which seems so simple and Bitconnect was one of the first to do this haha (good times).

It does not make sense in the long run if you ask me. What kind of service does staking provide to the blockchain or other individuals? except speculation?