{"id":1671176,"date":"2022-09-16T00:22:00","date_gmt":"2022-09-16T04:22:00","guid":{"rendered":"https:\/\/wordpress-1016567-4521551.cloudwaysapps.com\/?post_type=station&p=1671176"},"modified":"2022-09-19T23:53:50","modified_gmt":"2022-09-20T03:53:50","slug":"ada-whale-says-cardano-finds-the-right-balance-between-dream-and-reality","status":"publish","type":"station","link":"https:\/\/platodata.io\/plato-data\/ada-whale-says-cardano-finds-the-right-balance-between-dream-and-reality\/","title":{"rendered":"\u2018ADA Whale\u2019 Says \u2018Cardano Finds the Right Balance Between Dream and Reality\u2019"},"content":{"rendered":"
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A popular Cardano ($ADA) influencer has recently explained that he believes Cardano has managed to find the \u201cright balance between dream and reality\u201d when commenting on the influence large financial institutions and miners have on both Bitcoin ($BTC) and Ethereum ($ETH).<\/p>\n

In a tweet shared with their over 110,000 followers on the microblogging platform. Influencer ADA whale said that \u201clarge financial\/mining conglomerates now run the two biggest cryptos.,\u201d suggesting that large financial institutions \u2013 presumably including exchanges \u2013 and mining pools \u201crun\u201d BTC and ETH.<\/p>\n

To ADA whale, this is the \u201cantithesis of the original crypto dream of individuals running the networks. The whale added that Cardano has over 1,100 block-producing pools and non-custodial delegation to find the \u201cright balance between dream and reality.\u201d<\/p>\n

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Large financial\/mining conglomerates now run the two biggest cryptos. To me this is antithesis of the original crypto dream of individuals running the networks. With >1100 block producing pools and non-custodial delegation Cardano finds the right balance between dream and reality<\/p>\n

\u2014 ADA whale (@cardano_whale) September 15, 2022<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

The Cardano influencer\u2019s comments from shortly after a report from blockchain analytics platform Nansen highlighted that five entities held 64% of all staked ETH ahead of Ethereum\u2019s highly-anticipated Merge upgrade.<\/p>\n

These entities, its worth noting, include cryptocurrency exchanges Kraken, Coinbase, and Binance, which hold ETH on behalf of their users. Staking services offered by exchanges allow users to stake ETH without meeting the 32 ETH threshold required to become validators on the network, and are, as such, rather popular.<\/p>\n

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Moreover, the leading entity when it comes to staked ETH is Lido Finance, which is a decentralized protocol offering users liquid staking services. Those who stake ETH via Lido receive stETH in return, representing their staked tokens. Nansen also clarified<\/a> that the second-largest entity, dubbed \u201cunlabelled\u201d represents \u201call the unlabelled addresses combined.\u201d And not a single entity.<\/p>\n

Similarly, it\u2019s important to point out that Bitcoin has major mining pools \u2013 including F2Pool, Binance\u2019s pool, and AntPool \u2013 dominating its hashrate. These, however, are made up of thousands of smaller miners who may opt out of one pool in favor of another to stop a single entity from having control of 51% of the network\u2019s hashrate.<\/p>\n

As CryptoGlobe reported, ADA whale has last month explained they believe Cardano could become \u201cbigger\u201d than \u201canything seen in crypto before\u201d<\/a> if decentralized governance on the cryptocurrency\u2019s network works out.<\/p>\n

Image Credit<\/strong><\/h2>\n

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