Cardano Criticized for Centralization Claims

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A well-known crypto analyst, Justin Bon, has recently sparked controversy by claiming that Cardano (ADA) is ‘extremely centralized’ and urgently needs reform. He argued that the control mechanisms within Cardano’s protocol grant IOG (Input Output Global) excessive power. According to Bon, the ‘genesis keys,’ where IOG controls five out of seven keys in Cardano, allow it to single-handedly alter protocol rules without requiring a hard fork. However, the CTO of Sundae Labs, a Cardano DEX, refuted these claims, emphasizing that any significant protocol change requires the participation and agreement of the stake pool operators, and independent entities running Cardano nodes. Charles Hoskinson also reposted the CTO’s insights on the matter.