Cardano founder addresses concerns about contingent staking
Charles Hoskinson is certainly not new to controversy and criticism when it comes to matters related to the Cardano blockchain. The latest instance of criticism involves contingent staking, an idea that Charles recently talked about.
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Charles addressed the issue in a recent post through which he expressed disbelief in criticism stemming from the lack of understanding.
The Cardano CEO reintroduced the idea of contingent staking two days ago. One of the reasons for the criticism is that the idea touched on improving contractual agreements within the blockchain. More importantly, it addresses operations within a regulatory environment.
<p lang=«en» dir=«ltr» xml:lang=«en»>I'm still at a loss reading some of the comments on contingent staking. It's incredible how polarized some people have become to the extent that they can not understand a basic concept and continue to misrepresent it. (1/10)— Charles Hoskinson (@IOHK_Charles) February 16, 2023
Among the concerns brought forth by KYC is that Cardano will push for KYC especially when staking. Hoskinson addressed this by stating that Cardano will not implement a KYC regime. He also noted that it will not be a replacement for normal staking.
Hoskinson explained that contingent staking is a safety mechanism that can offset some of the risks associated with ISPOs in a contractual setting.
It is still in the conceptual stage. However, one can wonder what it would be like if such a mechanism was implemented. Having extra checks or security measures would likely introduce a higher level of trust for the Cardano network as well as its participants.
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