Binance may be responsible for over a dozen stake pools on the Cardano blockchain

Binance could be responsible for over a dozen stake pools on the Cardano blockchain - Binance Stake pool on the Cardano networkBinance, one of the largest cryptocurrency exchanges in the world, may be behind a dozen stake pools on the Cardano network. The latest information from the Daedalus portfolio shows that there are 18 stake pools whose metadata pages indicate they may have been founded by the exchange. While some members of the Cardano community cheered the news, others fear it could bring more centralization to the platform.

More than a dozen Binance stake pools appear on Cardano

With more than 1.000 stake pools currently operating on the Cardano blockchain, it was only a matter of time before some of the biggest players in the industry started entering the space.

According to data available on Daedalus Wallet, the first to launch not one, but 18 stake pools on the Cardano network was Binance, one of the largest cryptocurrency exchanges in the world. Rick McCracken, host of The Cardano Effect podcast, was the first to share the emergence of at least a dozen Binance stake pools on Cardano, tweeting the screengrabs of all pools titled “BNP”.

He, addressing Binance directly on Twitter, asked for official confirmation, adding “This is an exciting and interesting development, but at the same time disturbing, so I'm asking out of pure curiosity. Thanks!".

However, despite the metadata of most stake pools pointing to the official Binance website, neither the exchange nor any of its representatives have confirmed the actual authenticity of the news.

What impact can Binance's stake pools have on Cardano?

While it is still to be seen whether Binance will officially confirm the existence of these pools, many members of the Cardano community seem confident that the exchange is already serving Cardano. Many also celebrated the move, saying it could be a potential driver for both the price appreciation and the increase in the k parameter.

However, not everyone believes this is a positive development for the network. Much of the Cardano community seems wary of big players like Binance getting involved in staking.

Some have also warned that allowing multiple pools from single sources, especially large sources like Binance, could have a detrimental effect on ADA, Cardano's native cryptocurrency - find out quotation in real time - especially if you look at the situation with the block producers cartel on the EOS blockchain.

With a lower fee than most stake pools, Binance could attract a significant number of newcomers who want to engage their ADAs with the support of a trusted name, a move many believe will enhance that same centralization that Cardano should. instead, fight.