Cardano CEO Reveals “Multisig Pledging” to Help Small Cardano Stake Pools

Cardano Multi Signature for Small Stake Pool Operators is coming

Cardano stake pools are up and running, delegators have seen rewards, and they continue to push forward with focus seemingly on maintaining a stable network. A few weeks ago, founder/CEO of IOHK Charles Hoskinson mentioned the concept of partial delegation, where users would be able to partially delegate their stake to different stake pools, instead of just one.

Recently he took to YouTube to have provide details on the development state of Cardano and its different eras: Shelley, Goguen, Basho and Voltaire. Hoskinson further explained that for Cardano, the roadmaps phases are being worked on parallel to one another (working on more than one phase simultaneously).

Hoskinson also introduced delegation portfolios, which are a collection of stake pools, and has different ratios for each pool, and users would be able to share and import the list. It is a user-driven user-driven concept to benefit smaller stake pools

In the Daedalus wallet interface, there are small tiles that represent stake pools, where users are able to select a stake pool to delegate to. With the new feature, users will be able to select the ratios and different stake pools to delegate to, which then creates a portfolio.

Cardano recently released Daedalus version 2.2, its progress has been confirmed by the Cardano community. Hoskinson explained that through Cardano’s full-node wallet, Daedalus, IOHK is currently working on multisig, the hardware wallet center, and delegation portfolios. Hoskinson added that there are plans to incorporate Yubikeys, Qr code center, and shielded paper wallets into the ecosystem.

Smash, as explained by Hoskinson, is another concept that has been under development. Smash is a concept of Cardano’s view of how metadata should be handled for stake pools. He added that Smash would be progressing into a user-driven process. This means that Cardano users would be able to choose different smash servers that are parameterized by different users.

On the road to further decentralization, Hoskinson mentioned the development of “multisig pledging,” where small stake pools can merge their capital. The capital from smaller stake pools will be merged in a trustworthy manner to be competitive with larger pools. Hoskinson also mentioned that he has been in discussions with exchanges including Binance to enable exchange users to delegate Cardano’s native token ADA.

What do you think?

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