Source: Immersion Imagery – Shutterstock
- Cardano founders said a very small computer like the Beelink GTR5 is enough to act as a stake pool operator (SPO) for Cardano.
- With such a low barrier to entry, Cardano will appear in a larger ecosystem for the masses, said Hoskinson.
The Cardano blockchain, a layer 1 competitor of Ethereum, was one of the first blockchains to run on the Proof of Stake (PoS) consensus model, which is extremely energy and performance efficient.
Unlike Proof of Work (PoW) used for Bitcoin mining, Cardano does not rely on an energy-intensive mining process. As a result, you don’t need thousands of computers to power an entire blockchain. Some Cardano backers believe blockchain is 37,500 times more energy efficient than Bitcoin.
In one of his recent tweets, Cardano founder Charles Hoskinson said that a very small computer like the Beelink GTR5 is enough to act as a Stake Pool Operator (SPO) for Cardano.
The power of Cardano is that an $800 PC can efficiently run the world’s financial operating system as an SPO. https://t.co/4GGdSJuPTl
— Charles Hoskinson (@IOHK_Charles) October 25, 2022
In a livestream speech two days ago, Hoskinson added that criticisms of Cardano’s Proof of Stake (PoS) are often inaccurate. He specifically talked about the myth that Proof of Stake (PoS) blockchains are less accessible than Proof of Work (PoW) blockchains.he Said:
This is one of the major differences between Bitcoin mining and Proof of Work and Proof of Stake. Seeing all these people in the Bitcoin world saying “Proof of Stake is just a copy of Central Bank”
Alright, I went to Amazon, bought an $800 computer, read some tutorials and manuals, then boom, I’m on board with the system.Is it a copy of the global banking system? I don’t think you really understand how the global banking system works.
on the other hand, Bitcoin Mining setups are much more expensive when considering the cost of high-end ASICs. The Cardano Network reduces this barrier to entry and allows anyone to join for less than $1,000.
Cardano lightweight wallet, lace
The Cardano co-founder believes the new lightweight Cardano wallet, Race, will help expand ADA adoption. Hoskinson also believes Lace can pave the way for his billion Cardano users.
The Cardano Race Wallet is currently in beta stage of development and will seamlessly connect all of Web 2.0 and Web 3.0 in a single interface. This Cardano all-in-one wallet allows a user to manage his DApps, NFTs, and DeFi services in a single interface.
Hoskinson said Cardano will appear in a larger ecosystem of blockchains and sidechains running parallel to each other due to its easy access by the masses. He said:
It’s not just Cardano because Cardano will eventually be a network of blockchains, but when you think about the sidechain aspect, dozens, possibly hundreds of sidechains running in parallel, all peaceful It may be adjusted accordingly.
So it’s like “The Borg” moving around and absorbing technology, and all sidechains are blockchain-to-blockchain partnerships. This type of hardware can do it all, this type of ecosystem can do it all. It’s so cool and a culmination of our hard work.