Could Cardano Be More Decentralized Than Bitcoin

Cardano has been a big talk in the crypto world. As one of the major altcoins out there, it is billed as one of the few cryptocurrencies that stand a chance at challenging the dominance of Bitcoin.

Bitcoin always enjoys the first mover’s advantage, especially since it is by far the largest crypto by market cap. Hence, other upstarts are therefore required to table something better to stand out, or else they may not make sense in the market cap. 

Lately, considering the hype around Cardano, it is one of the few altcoins mounting a challenge because of the project’s decentralization aspects. 

Well, is Cardano more decentralized than Bitcoin? Continue reading and find out the mirror similarities of the two projects and how or why one is more decentralized than the other.

Arguments Supporting the Assertion

Some crypto analysts view that Cardano is indeed more decentralized than Bitcoin. Below are several points supporting that;

  • No White Paper

A white paper is a guide that serves to provide its issuing body’s philosophy regarding a complex matter. Then, the report goes ahead to advocate for a certain course of action as the most sensible one when resolving a complex issue. Thus, it has a high effect on the decision-making process.

Bitcoin, like most other cryptos, is bound by white paper. Cardano, on the other hand, utilizes scientific papers and design principles. As a result, they are less binding, giving leeway in arriving at a course of action within the blockchain. 

The increased aspect of decentralization in the path followed during the decision-making process is quite useful in solving cryptocurrencies’ main issues. They’re mainly interoperability, scalability, and regulatory issues.

  • Full Mining Decentralization

The blockchain has recently achieved full mining decentralization. Creating all blocks on the network is 100% in the hands of about 2200 community pools. The ownership of the pools is also very decentralized, thanks to the stake pool saturation limit accompanied by the one pool to one wallet requirement.

1 2 3
View single page >> |

Disclaimer: The Content is for informational purposes only; you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.