What is Cardano Staking
The primary goal of the Proof-of-Stake (PoS) network consensus is to enable the decentralized network to come to a mutual agreement among nodes about a single version of the truth. PoS is not only about the network consensus and there are very interesting social and financial aspects of the Cardano protocol.
Who owns the Cardano network?
Let’s ask a philosophical question. Who owns the network? Is it the team? Is it pool operators that produce blocks? The IOHK team invented the protocol and its implementation is publicly available on GitHub. The team is far the most significant contributor to the source code. All studies are also publicly available. No single piece of the Cardano source code or study is protected by a patent. Everything is free and available. The team does not own the Cardano network via the source code. Pool operators install a client to their nodes and produce blocks. They are a very important part of the ecosystem. Still, they are not the only owners of the network.
PoS is a unique concept that allows people to own a piece of the network by holding ADA coins. Everyone can buy ADA coins on an exchange like Binance or Huobi. Once you have private keys to the coins you own a piece of the Cardano network. There will be circulating only 45,000,000,000 ADA coins that represent the total stake. If you hold ADA coins…
