Can someone pls do this analysis here…
Cardano uses pools per POS delegation while on Symbol every account harvests on its own, better decentralization.
Cardano will activare smart contracts just like many other existing blockchains, Symbol has unique features like bound transactions and smart accounts.
ADA is already very hyped, I guess there’s little room for future growth; XYM is brand new, cheap, listed on few exchanges, the best is still to came.
Anyway, don’t trust me, do your own research.
I disagree. I own both, and as a hodler, I can tell you that the Daedalus Wallet is a much better design than anything the NEM foundation has done. And it works much better.
In so far as harvesting, I can tell in real time if I am harvesting anything. I can tell you, for example, that in 3 days times I will earn yet another Cardano reward. And, I am yet to harvest anything with symbol.
In my experience, it isn’t even close. And Cardano wins by a wide margin. Harvesting NEMs or XYMs is still a mystery to me as to whom is getting those rewards. It is not me.
I’ve been harvesting SYM since the 19th of March this year and have harvested 75 blocks to date, have only been harvesting ADA for three days through a pool (presently the only option for ADA holders) and have have so far harvested 0 blocks…
Cardano does seem far more decentralised than it’s main compeditor ETH, but agree, Symbol’s method of harvesting is clearly more decentralised than ADA!
How accurate is the prediction? And is it a general prediction, like it says “we predict you will make a block every 3 days” or is it something like a countdown clock so you know that in so many days/hours/minutes you will make a block?
Edit: @Julian, I have made an issue on Github. Would this make the experience better? Predict how often a user can make a block · Issue #1454 · nemgrouplimited/symbol-desktop-wallet · GitHub
It is not a prediction. It is a statement of fact. The message says “Currently Earning Rewards” And, every 5 days, the rewards appear.
Would it not be nice if the Symbol wallet did the same? I honesty do not have the math acumen to understand the nuances of predictions and complex algorithms to which you refer.
I only have my own experience to go by. All I know is how wallets behave in my hands when I follow directions. The complex math behind the curtain is beyond my abilities.
That is what I wanted to know. I’m by no means an expert in Cardano and don’t own any ADA but I can guess because of the statements above because of the staking pools, said pools are maybe doing payouts on a set schedule. I understand why that is a plus for a regular user.
But as others mentioned, it isn’t as good for decentralization too. We can keep decentralization and come up with something acceptable though.
I don’t think we can ever get to the point of a set time you will make a block because the developers actually spent a lot of time making sure of the exact opposite. Meaning, in a true blockchain like Symbol for security reasons, you will never know who will make the next block; it is truly random. Also, I know staking pools on Ethereum for instance often require you to actually give custody of your ETH to another and trust them. On Symbol, your staking coins will always be controlled by your keys and the XYM never leave your account, even if somebody else’s server is producing blocks for you.
The randomness built into Symbol on purpose and other security measures also means that maybe your account importance means you should make a block once a week and you might go three weeks without a block but then make one three days in a row. This type of thing can and does happen; the best we will be able to do is make a predicted average which will overtime be pretty accurate given enough time.
Lastly though, your main point can’t be overlooked; to a wallet user checking out the platform, they just see that Cardano tells you exactly when you will get rewarded and with the Symbol wallet right now, its hard to tell even “if” you will get a reward let alone when and how much. So the team should look at this IMO to make Symbol more competitive.
I am in possession of my password, my private keys and my seed and backups for my ADAs. Cardano does not have access to my coins. As I said, I do not know how it is done.
All I had to do was to delegate to one of the Pools that I picked from the list provided. All the pools appear within the Daedalus ADA Wallet itself. There is no need to leave the wallet to study each pool. Most pools even have their own website to entice you to their pool.
On the surface, it appears as if Cardano pools have to compete to get my coins delegated to them. But, then again, I am just guessing.
The way all the pools are presented, you can easily see how many coins they have delegated to them. I noticed that some pools may have as many as 60 Million ADAs, or more. There are about 2100 Pools. And very few are Yellow. You can also see how many blocks each Pool has done. Right there in my wallet after I log in.
The pools themselves appear ranked before you get to them. If they are at 100% capacity, you move down the ranks. When a pool reaches 100% capacity, it turns yellow. When they have spots available, they are green. Whenever you pick a pool, you are assured that you will be active and earning rewards.
I am glad that you got my point. The average user will never understand the mathematics, and will not even try. The end user just knows what the wallet behavior is, or is not.