Coin Edition -
- Charles Hoskinson has clarified that he has nothing to do with the Cardano Foundation.
- Crypto Crow said Cardano’s new delegation strategy has struggled to impress.
- The Cardano Foundation introduced a new delegation strategy focusing on decreasing pools and increasing rewards.
Cardano founder Charles Hoskinson has clarified that he has nothing to do with the Cardano Foundation, its delegation strategy, or general operations. Hoskinson made the statement while responding to a user who sought clarification over the activities of the Cardano stake pool operators.
I have nothing to do with the CF, it's delegation strategy, or general operations. If you have questions, take it up with them— Charles Hoskinson (@IOHK_Charles) October 17, 2023
The user, identified as Blockchain USA on X (formerly Twitter), asked Hoskinson for further explanation of a YouTube video by Jason Appleton, known as Crypto Crow, a renowned Cardano validator and owner of the Crow node. In a recently uploaded video, Crypto Crow noted that Cardano’s new delegation strategy has struggled to impress.
Citing a recent publication about the challenges faced by the Cardano delegation strategy, Crypto Crow noted that the Cardano Foundation’s shift towards a new delegation strategy has raised concerns about welcoming centralization. According to him, that meant the Cardano Foundation was changing the way people stake nodes.
The Cardano Foundation has introduced a new delegation strategy focusing on decreasing pools and increasing rewards. Crypto Crow shared that the new delegation strategy contradicts everything the protocol has promoted over the years. He noted that the Cardano community has criticized the new delegation strategy amid fears of creating a centralized system.
Running fewer nodes would imply that only a few people would command control of the Cardano network, according to the YouTuber. Moreover, he added that it would reduce the points of failure and make Cardano susceptible to centralization.
According to Crypto Crow, there was a time when his Crow node became over-saturated, meaning that the yield for all delegators to the Crow node could go down. Following that development, he created a spillover node to accommodate the teeming delegators approaching the Crow node.
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