Cardano becomes the most decentralized network on the market with majority of ADA supply staked ๐จ This article is 3 years old...
Cardano becomes the most decentralized network on the market with majority of ADA supply staked
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Updated: Jan. 8, 2021 at 11:30 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
With more than 69 percent of its total circulating supply now staked, Cardano has surpassed Polkadot as the most decentralized network in the world. According to data from Staking Rewards, over 21.75 billion ADA has been staked on the Cardano network so far.
Cardano is now the most decentralized blockchain network in the world
Cardano, an ambitious blockchain platform created by IOHK, has been on a quest to become the worldโs foremost blockchain platform, used for everything from dApps to digital identity and blockchain voting.
However, with the blockchainโs smart contract, interoperability, and governance functionalities yet to be fully released, many have dismissed the significance it currently has on the market.
But, according to the latest data from data aggregator Staking Rewards, Cardano has now become the most decentralized blockchain network on the market. There is currently over 21.75 billion ADA staked on Cardano, representing 69 percent of its total circulating supply.
The blockchain has surpassed Polkadot, which has long held the first spot among blockchains in terms of staked value.
More than 100 million new ADA delegated in a single day
Data from Cardano data aggregator AdaPools has shown that the active stake or the total amount of ADA delegated at the end of the last epoch, currently stands at around 21.47 billion ADA. The live stake, which represents the real amount of ADA currently delegated to stake pools, stands at 21,750,541,767.
Out of the 21.75 billion ADA currently staked, over 100 billion has been delegated to stake pools on Jan. 5 alone.
No way, we just hit 100 Million new stake ADA on a single day !
This is insane.
Guy stake and don't sell !!!!#Cardano #ADA pic.twitter.com/c3p6rSG0M6
— Pieter Nierop (@nierop_pieter) January 5, 2021
According to data published by Pieter Nierop, an average of 25.7 million new ADA has been staked per day in the past seven days. There has also been an average of 1,500 new delegators to the network every day for the past week, while 1,895 new wallets have been created on Jan. 8 alone.
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Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source.
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Input Output Hong Kong (IOHK) is a research and development company committed to using the peer-to-peer innovations of blockchain to build accessible financial services for all.