Run a world financial operating system on an $800 computer using ADA blockchain | Biden News


  • Cardano’s founder said that a very small computer such as the Beelink GTR5 is sufficient to act as a Cardano stake pool operator (SPO).
  • With such a low barrier to entry, Cardano will emerge into a larger ecosystem for the masses, Hoskinson said.

Ethereum blockchain’s Layer 1 competitor Cardano was one of the first to operate on a Proof-of-Stake (PoS) consensus model, which is extremely energy-efficient as well as efficient.

Unlike the Proof-of-Work (PoW) used for Bitcoin mining, Cardano does not rely on the energy-intensive mining process. As a result, it does not need thousands of computers to run the entire blockchain. Some Cardano supporters also believe that the blockchain is 37,500 times more energy efficient than Bitcoin.

In one of his recent tweets, Cardano founder Charles Hoskinson said that a very small computer like the Beelink GTR5 is enough to act as a Cardano operator (SPO).

In his live stream address two days ago, Hoskinson also added that criticisms surrounding Cardano’s Proof-of-Stake (PoS) are often inaccurate. He specifically talked about the myth that Proof-of-Stake (PoS) blockchains are less accessible than Proof-of-Work (PoW). He said:

This is one of the big differences for me, between Bitcoin mining and proof of work and proof of stake. When you see all these people in the Bitcoin world saying ‘well proof of stake is just a replication of central banking.’

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Okay, so I can go to Amazon and buy an $800 computer, read some tutorials and manuals, and then boom, I’m participating in this system, and it’s a copy of the world banking system? I don’t think you really understand how the world banking system works.

On the other hand, having a Bitcoin mining setup would be much more expensive considering the costs of advanced ASICs. The Cardano network reduces this barrier to entry by allowing anyone to participate for less than $1,000.

Cardano’s Lightweight Wallet, Lace

The Cardano co-founder is also confident that Lace, the new lightweight Cardano wallet, would help expand the adoption of ADA. Hoskinson also believes that Lace could pave the way for one billion Cardano users.

The Cardano Lace wallet is currently in the beta phase of development and will seamlessly connect everything in Web 2.0 and Web 3.0 into a single interface. This all-in-one Cardano wallet will allow users to manage DApps, NFTs and DeFi services in a single interface.

Hoskinson said that due to the easy accessibility to the masses, Cardano will emerge into a larger ecosystem of blockchains and sidechains that will work in parallel with each other. He said:

Cardano will eventually be a network of blockchains so it won’t just be Cardano, but when you think about the sidechain of things, there might be dozens, maybe hundreds of sidechains running in parallel all tuned to peaceful things.

So that’s how ‘The Borg’ goes around and absorbs technology, every side chain is a blockchain and a blockchain partnership. This kind of hardware can run everything, and this kind of ecosystem can run everything. It’s so cool and it’s just the fruits of our labors.


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