Cardano News Today – Cardano’s Charles Hoskinson Talks About DAO, Cardano staking Guilds and Portfolios – August 11th, 2020

  • Charles Hoskinson Comments on Staking Guilds, Portfolios, and Decentralized Applications 
  • Hoskinson Also Emphasizes the Importance of Community Work on the Blockchain

Cardano News Today – Cardano has been doing pretty well since the successful completion of the Shelley hard fork. According to its founder Charles Hoskinson, Cardano will soon get staking guilds and portfolios. These two things will make the platform even more decentralized. The guilds will be organized through a DAO and people may be able to vote on the integration of ideas thanks to the new dcFund. He also talked about things like delegation and the importance of communities.

Cardano News Today – Hoskinson Releases a new Whiteboard Video with Important Details

In his latest whiteboard video, Hoskinson said that it is important for them to maintain a certain standard in the future development of the Cardano blockchain. This includes staking pool standards. He said that staking guilds will come in handy. All the staking operators will agree on common standards while other things will be negotiated by forming guilds. To ensure that their decentralization isn’t affected, the guilds will be organized as decentralized autonomous organizations. The development will be handled by IOHK.

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After talking about staking guilds, he talked about delegation in what is referred to as the “one to many” relationship. Using a single wallet, token holders will be able to delegate ADA to different multiple staking pools that represent different ideas. Part of his words a was as follows;

“This opens up the idea of almost like playlists for SPOs. You know how people share music with you, here’s my favorite playlist […] well similarly you can have portfolios based upon things you are interested in. And they have different allocations in terms of percentages. People can share them and curate them. So you can say. ‘I am interested in water projects in Africa. These 5 stake pool operators are doing these things. I am interested in people subsidizing client development […] or I just want to maximize profits. Instead of the current delegation center within the Daedalus wallet, there could be a portfolio center”.

He continued;

“I believe very firmly that these staking guilds are coming and I believe very firmly that we are gonna get curated portfolios of staking at some point very soon. We are gonna do our part to make the software better, add more features and functions. So the more problems we find the circle continues. And that is ultimately why Cardano is going to be number one. It’s not about where we are at today, it’s about recognizing that we are off the spiral. Our competitors are closed systems in that respect. It might be very large and big like Bitcoin, but eventually, the spiral gets larger.”

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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