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HomeNewsCardano Network Now Boasts Of More Than 10 Billion Staked ADA

Cardano Network Now Boasts Of More Than 10 Billion Staked ADA

Recently, Cardano exceeded a significant landmark with over 10 billion ADA being staked. ADAPools released data that revealed that there are now 939 available pools, with 10.87 billion ADA staked.

After the Shelley upgrade on the 29th of July, Cardano users now have access to stake their ADA for better network function and decentralization. Few days after the Shelley hard fork launch, there were over 600 active stake pools. As at 2nd of August, Cardano had 623 active stake pools with a collective 2.74 billion ADA committed for an improved network function and decentralization.

Since the Shelley upgrade, the number of active pools have surged more than 80% inching towards 1,000. Positive about the 1,000 goal, the Cardano Foundation added that the network will become a major decentralized, scalable, and secure blockchain when the mainnet hits a thousand pools.

In addition, the team behind Cardano’s development, Input Output HK (IOHK) promised Smart Contracts and Native Assets as some of the features of the Shelley upgrade. This was announced in a by IOHK chief executive officer, Charles Hoskinson. He said the new features will be added later this year and also countered Daniel Larimer of EOS’s statement that Cardano’s latency is unsuitable for most use cases.

“Smart Contracts and Native assets are coming this year,  our latency is lower than Ethereum’s – the dominant DeFi platform….”

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