Complete transparency of stake pools
Updated: Nov 7, 2021
I've been playing around with a thought the last couple of days..
How could one Improve the transparency of the Cardano stake pool market, to increase mainstream adoption of Cardano and its stake pools?
And here is one of the solutions I've been considering.
Shared operations data
Since most of the stake pool operators are using the prometheus-grafana combo to monitor the operations of their stake pool. We should easily be able to share this data with the public to show how all of the stake pools internal operations are running and not just the monetary fact one can obtain from adapools or pooltool.io.
This would grant the potential delegaters a way of getting a informed view of the technical skills of the operators, and combined with the data from adapools and pooltool.io it would create a better foundation for the delegaters to choose from.
This could also improve decentralization as the delegaters would feel more secure to choose a smaller stake pool with a great performance, since they can build their confidence in the smaller stake pool from their operations data.
This would take a great collaboration for the stake pool operators as they would have to willingly send the data to a centralized database where one could build a performance board for the available stake pools.
In the spirit of the blockchain this would be the way to go, but it also creates some quite interesting issues, as to how can one create a single overview of decentralized nodes for the delegaters to use. This could be built using a index of endpoints for all willing stake pools, where the centralized service will query the individual end points on request. See the drawing below to get a feel for the architecture:
No matter which solution is build, a willing stake pool operator community has to be behind it, otherwise it will all fail. However, as of right now it is hard for the individual ADA owners around the world not to just fall into the binance or e-toro trap, and just stake with the larger portfolios of pools. In the long run this will increase centralization and remove some of the beauty from the blockchain technology, and the entire Cardano community will be worse of with out a decentralized network.