Coin Edition -
- Charles Hoskinson explained the concept of contingent staking through a series of tweets.
- He narrated the concept exclusively considering the people who misrepresent it.
- He differentiated between contingent staking and normal staking.
Charles Hoskinson, the American entrepreneur and the co-founder of Input Output Global Inc, shared a string of tweets on his official Twitter account today, explaining the basic concept of “contingent staking.”
Hoskinson tweeted that some people are “polarized” to the extent they cannot understand the basic concept of contingent staking and continue to “misrepresent it”.
I'm still at a loss reading some of the comments on contingent staking. It's incredible how polarized some people have become to the extent that they can not understand a basic concept and continue to misrepresent it. (1/10)— Charles Hoskinson (@IOHK_Charles) February 16, 2023
In the following tweets, Hoskinson narrated explicitly how contingent staking differs from “normal staking,” claiming that “contingent staking does not implement a KYC regime on Cardano.”
In addition, he noted that the marketplace of SPOs would still be existing, stating:
It does not remove private pools. A marketplace of SPOs would still exist and allow people to continue to delegate to their preferences, including normal stake pools.
Significantly, Hoskinson commented that the opponents of contingent staking do not understand the menaces of an Initial Stake Pool Offering (ISPO); he cited the dangers of ISPO without “entry conditions and contracts prior to getting customer funds”.
Further, Hoskinson shared his concerns regarding the “opponents” who have no solid explanations of the institutions that run stake pool entities, stating:
Opponents of this concept offer no solution for how actors like governments, universities, regulated entities, not-for-profits, and others who could and sometimes actually do run stake pools can do so and stay in compliance with local regulations. I guess they don’t matter?
While concluding the chain of tweets, Hoskinson stressed that communication mediums should not be used to polarize and divide debates and discussions.
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