Bitcoin VS Cardano
Bitcoin’s consensus mechanism is proof of work based on computing power, and no one can stop the giants from building bigger and bigger mining farms, which brings us to the current problem, that some very powerful players can form a coalition and control more than 51% of the hash power and take control of the network.
On the other hand, Cardano’s consensus mechanism is the proof of stake, a way to give power back to the community that holds the ADA tokens (one ADA, one vote), but if we continue to delegate our ADAs to giant multi-player pools, the problem of decentralization will be weakened and it will become even more serious, risky and dangerous than the problem Bitcoin is facing
Thanks to the IOHK and the Cardano Foundation, by lowering the K parameter, we were able to partially rebalance the situation and increase the single-stake pool to 61%.
But we must remain vigilant and continue to protect our ecosystem from any possible attack at 51%,
That’s the magic of Cardano, the big players can make as many pools as they want but at the end of the day, we have the power to decide to whom we delegate our ADA.
Everyone has the right to make money or get rich, we are not against it, we can still do it without lowering our pants and trampling the noble and human values that have brought us together on this platform.
Keep on supporting the single Cardano Pools for life.