A sensation from the blockchain world, and it's not about Bitcoin, where everything is as usual: one tweet from Elon Musk can either crash your savings or double them. This is about Cardano. The very network where epochs change more frequently than presidents in Latin America.
So, EMURGO, one of the developers of Cardano, declared: “We will no longer delegate Genesis ADA to your community DReps. Enough is enough, let them play fair.”
At first glance, isn’t it wonderful? Decentralization, democracy, fairness. Just like in the investor brochure. But let’s look deeper.
Seven DReps and no legacy
Previously, EMURGO delegated its Genesis ADA not only to itself but also to a full seven representatives from the community. Sounds nice: grassroots support, people's voices. But, as it turned out, people began to whisper: “Isn't EMURGO wielding too much influence?”
And you know what? They listened. Imagine: in the crypto world, someone actually listened to the community! It's about as if the tax office said: “Alright, we won’t take any extra from you. You’re already trying hard.”
The rare wonder Rare Evo
The key moment was the Rare Evo conference. There, people raised the question: why is EMURGO, which already has plenty of power, also delegating a bunch of Genesis ADA to its chosen ones? It’s like if the organizers of a football match were also refereeing the game.
After Rare Evo, EMURGO decided: “Okay, fine, we will remove delegation. But not right away! Let’s wait until Epoch 577 so as not to disrupt the current proposals.”
You see? Even here, bureaucracy. In cryptocurrency!
So what now?
Now Cardano has a chance to become… a little more decentralized. Less influence from major players, more space for small DReps. That is, theoretically, more democracy. Practically, we are still observing the same guys making decisions behind closed doors.
But still, let’s acknowledge: it’s a step in the right direction. Considering the voice of the community is at least a nice gesture.
And here’s the question that every ADA holder should ask:
If EMURGO can change the balance of power in the ecosystem with one tweet, how 'decentralized' is Cardano really?
We’re starting to suspect that true decentralization is when even Charles Hoskinson cannot change the rules of the game, even if he really wants to.
