Is Cardano a Security? ADA's Decentralization Stats Compared to Bitcoin's

The Cardanians long-form tweet compares key protocol figures with those of Bitcoin and, per the numbers, Cardano is shown to be more decentralized than BTC. The Cardano protocol has a total of 3,200 pools, with the five largest owning a fraction of the shares in amounts of 8%, 4%, 3% and 2%, respectively.

These low shares imply that it will take hundreds of actors to form a coalition that can lead to a 51% attack on the protocol. On the contrary, Cardanians noted that Bitcoin's largest miners include the Foundry USA pool, which produces around 32% of the blocks, and AntPool, which produces 21%. The other three pools have shares of 18%, 8% and 6%. With these figures, it is possible for just a few of the pool operators to join forces and launch an attack on the Bitcoin network.

Cardanians pointed out that unlike Input Output Global , the management process of Bitcoin Foundation is not as transparent.the SEC's claims that ADA is a security. While the SEC has not laid a formal complaint against Cardano directly, support from key entities like stakers and validators will be essential as support for the protocol in the regulatory storms ahead.

Source: Digital Coin News (digitalcoinnews.net)

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