ADVERTISEMENT

Cardano: IOHK announces successful adjustment of K and increased decentralization

  • IOHK announces successful modification of parameter k with epoch 234 of Cardano.
  • Parameter d has been paused at 68% by the Cardano development company due to the holiday season.

Cardano has had a month of good performance. At the time of publication, ADA is trading at $0.15 with gains of 43.90% over that period. Furthermore, IOHK has made significant progress, which has been reflected in its price. First and foremost, the Goguen era, and with it the possibility of implementing smart contracts on Cardano, is drawing closer according to recent announcements.

Besides that, IOHK also declared the successful modification of the parameter k. According to the company’s announcement, the modification took place on Sunday, December 6th at 21:44 UTC in Cardano’s Epoch 234. In celebration of the adjustment, IOHK reported:

So we have now successfully moved k to 500 – #Decentralization continues apace!

Tim Harrison, Director of Marketing and Communications for IOHK, has been tasked with informing the Cardano community about the change. In a series of publications, Harrison indicated that after Shelley’s deployment they have been monitoring the network. Consequently, IOHK determined it necessary to make an increase to k, initially set at 150.

In this way, the development company behind Cardano seeks to encourage community participation in smaller staking pools or at a level below 65 million ADA. The community was already informed a few days ago that they should use the Daedalus wallet to ensure that their staking pools have a saturation level of more than 30%.

Modification in d and new version of Cardano Daedalus wallet

To implement the change from k, IOHK, IOHK had launched a new version (2.6.0) of its Daedalus wallet. It has support for the adjustment of the parameter k and is available waiting for the next update that should happen sometime this week. This one will give staking functions to the users of Ledger and Trezor. IOHK said:

The slider on the ‘stake pools’ page now uses the desired number of stake pools to calculate the maximum value. Plus we’ve added numerous smaller fixes and improvements. Existing Daedalus users will receive a newsfeed alert to automatically update.

Another important announcement for the community has been that the percentage of blocks assigned to Cardano community pools has increased by 6% instead of the usual rate of 2% per epoch. IOHK argues “operational” reasons:

(…) the percentage of blocks assigned to #Cardano community pools has increased today by 6% instead of the usual rate of 2% per epoch. For operational reasons, we have delivered this larger increase early (…) and will now pause d at 68% over the holiday season, before continuing to raise this percentage in early January. Happy K=500 day!

About Author

Avatar

Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

Comments are closed.

Follow us to the moon!