Run a world economy operating system on an $800 PC using the ADA blockchain
Source: Immersion Imagery – Shutterstock
- Cardano’s founder said that a very small computer like the Beelink GTR5 is enough to act as a Cardano stake pool operator (SPO).
- With such a low barrier to entry, Cardano will emerge in a larger ecosystem for the masses, Hoskinson said.
Ethereum’s Layer 1 competitor Cardano blockchain has been one of the first to run on a Proof-of-Stake (PoS) consensus model that is extremely energy efficient as well as performance 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 power up 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 stake pool operator (SPO).
The power of Cardano is that you can effectively run a world economy operating system as an SPO on an $800 PC https://t.co/4GGdSJuPTl
— Charles Hoskinson (@IOHK_Charles) 25 October 2022
In his live address two days ago, Hoskinson also added that the criticism surrounding Cardano’s Proof-of-Stake (PoS) is 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.”
Okay, so I can go to Amazon and buy an $800 computer, read some guides and manuals, and then boom, I’m participating in this system, and it’s a replication of the World Bank system? I don’t think you fully understand how the world banking system works.
On the other hand, having a Bitcoin mining setup will be much more expensive considering the cost of advanced ASICs. The Cardano network lowers this barrier to entry so anyone can 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, will help expand ADA adoption. Hoskinson also believes that Lace could pave the way for one billion Cardano users.
The Cardano Lace wallet is currently in the beta stage of development and will seamlessly connect everything n Web 2.0 and Web 3.0 into a single interface. This all-in-one wallet from Cardano will allow users to manage DApps, NFTs and DeFi services in a single interface.
Hoskinson said that because of its easy accessibility to the masses, Cardano will emerge in a larger ecosystem of blockchains and sidechains that will run parallel to each other. He said:
Cardano will eventually become a network of blockchains, so it’s not just going to be Cardano, but when you think about the sidechain side of things, there will potentially be dozens, potentially hundreds of sidechains running in parallel, all tuned to pacific affairs.
So it’s like “The Borg” going around absorbing technology, each side chain being a blockchain and blockchain partnership. This type of hardware can run all of this, and this type of ecosystem can run all of this. It’s so cool, and it’s just the fruits of our labor.
