‘ADA Whale’ on Why Cardano Having ‘One of the Smallest Ledger Sizes in Crypto’ Matters
Recently, pseudonymous Cardano ($ADA) influencer “ADA whale” (“cardano_whale” on Twitter) explained why Cardano’s relatively small ledger size has material importance.
Last Sunday (30 October 2022), “ADA whale” took to Twitter to tell his over 117K followers that Cardano’s full larger takes up less than 100GB of storage, which means that you only need basic (i.e. inexpensive) hardware to verify the Cardano blockchain:
He went on to say:
“In general, the newer the crypto the higher the hardware requirements: disk size, memory, CPU, internet speed, etc. And the harder to become a validator. Effectively only wealthy insiders can run and verify their chains. They massacred the principle hoping no one would notice.“
Interestingly, on October 25, Charles Hoskinson, Co-Founder and CEO of IO Global (aka “IOG”, formerly known as “IOHK”), the company responsible for Cardano’s R&D, pointed out that it is possible to run a Cardano node as an $ADA stake pool operator (SPO) for as little as $800 (and still have a future-proof system):
On Monday (31 October 2022), i.e. Halloween 2022, Cardano Foundation announced the on-chain stats for October, and thankfully the numbers were healthy enough not to scare any $ADA HODLers.
Cardano Foundation is “an independent Swiss-based non-profit that oversees and supervises the advancement of Cardano.” It is the legal custodian of the Cardano brand and it collaborates with IOG and EMURGO to “ensure that Cardano is being developed and promoted as a secure, transparent, and accountable solution for positive global change.” Cardano Foundation “sets the direction for decentralized economic empowerment, working with regulators in different jurisdictions to shape blockchain legislation and commercial standards, and empowering the Cardano community to leverage the Cardano protocol to solve real-life problems.”
Cardano Foundation celebrated Halloween this year by sent out a tweet to its over 850K followers that showed how the number of native tokens, the number of wallets, the number of Plutus scripts, the number of transactions, the number of delegated wallets, and the number of policies had all gone up in October 2022:
The IOG CEO said recently that in the long term Cardano will evolve into “a network of blockchains.”
According to a report by The Daily Hodl, in a video released on October 25, Hoskinson made the following prediction:
“Cardano will eventually be a network of blockchains so it’s not just going to be Cardano, but when you think about the sidechain side of things, there’s potentially going to be dozens, potentially hundreds of sidechains running in parallel all tuned to pacific things. So it’s like ‘The Borg’ going around and absorbing technology, every sidechain is a blockchain and blockchain partnership.“
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