The Cardano Foundation recently launched a delegation strategy that has sparked criticism from the Cardano community. This has prompted some community members to seek clarification from founder Charles Hoskinson, but he seems to want no part of the unrest.
Hoskinson Declares No Ties To Foundation
Following the publication of Cardano Foundation’s delegation strategy update, a crypto X (formerly Twitter) handle, Blockchain USA requested the Founder of Cardano Blockchain, Charles Hoskinson to clarify and provide more details on certain aspects concerning the Cardano Foundation’s updated delegation strategy highlighted by a prominent YouTuber Crypto Crow.
“Can you elaborate further on this or clarify about the stake pool operators what he’s talking about. I’d like to hear it from the Godfather’s mouth,” Blockchain USA stated.
In response to the post, Hoskinson clarified his role within the Cardano ecosystem and stated that he was independent of the Cardano Foundation and its operations.
Since Hoskinson is renowned for overseeing and executing several high-end projects and activities in the ecosystem, his relinquishment of any affiliation with the Cardano Foundation comes as a surprise to many community members who were actively looking forward to better understanding the new updates integrated into the delegation strategy which focuses on rewards over stake pools.
“I have nothing to do with the CF, its delegation strategy, or general operations. If you have questions, take it up with them,” Hoskinson told Blockchain USA.
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Cardano Foundation’s Newly Updated Delegation Strategies
The Cardano Foundation is renowned for modifying its delegation methodologies to improve the ecosystem and provide a better support system for the Community. Recently, the foundation shared changes in its delegation strategies after conducting multiple delegation rounds.
The present delegation strategy update includes six effective methodologies that would improve the quality and efficiency of its delegation processes. One of which is an extended delegation period of 12 months, and the reduction of pools to increase the size of packages.
Another change seen in the updated strategy is the elimination of single pool requirements and the introduction of a single form in the application processes. According to the foundation, the purpose of the updates is to improve the development and decentralization of the Cardano blockchain.
Currently, there are opposing views on the new delegation strategy updates. Only a few of the Cardano community members seem to be anticipating the implementation of these new strategies aimed at strengthening the blockchain’s core functionalities. While the majority of the community members have expressed concerns and doubts about the new methodologies, citing various potential flaws in the updated delegation strategies.
“Not all changes are improvements though; SSPOs now feel they have less support from CF, now that you’ve made MPOs eligible. Solution: Ratio this 80/20 in favor of SSPOs. Also, the criteria for handpicking pools are fuzzy. This should be transparent,” a community member commented.
Featured image from Analytics Insight, chart from Tradingview.com
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Scott Matherson
Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.
