The optimizing of the network took seven months to complete. However, at long last, the stake pool operator of Cardano finally has control over the block produced.
The entity supporting blockchain IOHK has withdrawn its administrative role. IOHK will not take part directly in the production of Cardano’s block, establishing Cardano as the only exclusive community-run network in the marketplace.
Last year when Shelley was released to the public, Cardano had set its path to becoming completely decentralized, a task not easy to overcome because of demanding requirements. Nevertheless, within seven months, the team at Cardano managed to decentralize the network.
A recent statement released by the IOHK states that the current 2000 stake pool operators of the community are in control of Block production on the network. From now onwards, IOHK will merely work with the underlying protocols that define the system rather than participating in the block production.
Aparna Jue states that operating with stake pool operators confirms that the transfer of block production will be smooth and predictable. According to the company, it is a critical time for the decentralization of the network. The company believes the network will also gain decentralization soon in both development and governance.
The three factors of decentralization
The IOHK blog post explained the model of decentralization is backed by three factors such as networking, governance, and block production. These three factors are linked, and to achieve decentralization, all of the above-mentioned factors require working in sync.
Now that IOHK is completely cut out from the production of block subsequently, the next big issue to resolve is the execution of the P2P network. However, the feature was introduced when Shelley was released. It is still far away from being properly implemented, which will require few months.
According to Cardano’s plan, the ultimate step for decentralization is governance. The parent company of Cardano has been currently developing Voltaire and Goguen at the same time as Shelley. Goguen release includes both native tokens and metadata to Cardano, further highlighting Project Catalyst. The project will be the predecessor of Voltaire and a network phase that contains on-chain voting.
At 9:44 pm GMT approximately, Cardano will transform from a combined network of 7 nodes operated by Emurgo, Cardano Foundation, and IOHK to a community-run decentralized network that will host a modern financial network.