There’s this ongoing discussion some of us SPO’s are having over at the SPOCRA discord chat.
One fellow SPO shared the following finding which shows that 88% of the entire Cardano network right now is very likely under the control of only 8 entities.
This is a lot worse than Bitcoin. And definitely very far from IOHK’s (or Charles’ at least) rhetoric on decentralization and “pushing power to the edges”. If this is going to be any different from our existing financial and power structures, it’s only the different shape or faces. But it’s fundamentally the same crap.
Charles, in his videos, talk about the need for effort on the part of the SPO’s to attract their own delegators. This is no problem alright. Many of us at least, if not most, already bust our butts on this endeavor.
But all this effort will still be futile if the system is rigged against the small or startup operations.
There’s already plenty of materials here in this forum and elsewhere that explains how the system actually doesn’t promote decentralization with the way it is configured right now. So it’s not worth repeating it here. This is just to hopefully bring to the attention of some more people in the community and IOHK, this yet another proof observed in the pool and stake data, that shows that the system doesn’t work as advertised.
If this is not changed quickly, this is not going to be a network that will last a decade. Let alone 50 or 100 years.
And we know who currently has the direct power to apply those changes.