Cardano’s blockchain has finally become proof-of-stack (PoS) after the arrival of Shelley update. The staking phase era of the network has attracted the users more, and they can now stake Cardano (ADA) easily as the process is simple. After a significant increase, the market cap of staked ADA has reached above $10.4 billion.
Cardano’s Shelley has witnessed an outstanding performance since its launch, and in less than two weeks, the numbers of staking pools have reached to 919 as there are more than 25,000 Daedalus and Yoroi wallets that are staking ADA.
The staking activity over the Cardano network has a 33.5% increase since the time of launch, and the market cap of staked ADA has reached above $10.4 billion. The dedicated website for staking also shows that staking pools are set up by the community for users all over the world, such as the US, Japan, Africa, Canada, and the Philippines.
Daedalus wallet has been recently launched by the Cardano, which is one of the two wallets that supports ADA crypto staking activity. After Daedalus’s launch, the staking of the cryptocurrency increases as users can also redeem rewards collected in the period of Shelley Testnet. On August 3, when staking pools reached over 700, IOHK said in tweet,” So. Just 5 days in and we’ve just crossed our first epoch boundary in Shelley.”
Cardano’s Shelly: Best Codebase
Recently, the blockchain firm Quantstamp audited the Shelley network and said its codebase is “one of the best, second best to Ethereum’s Prysm and better than Tezos.”
So, after the launch, Cardano’s blockchain is competitive of the world’s best blockchains including Ethereum. “We also audited Prysm from Eth 2.0 and we would say that in terms of quality, similar to Prysm, it is one of the best codebase we have seen,” Quantstamp added.
Cardano supporters, Cardanians.io, stated:
“We can see many great opportunities in the #Cardano ecosystem. It is going to be even better with tokens, smart contracts, and other features. Do not hesitate and be active now. It can be the best decision of your life. #Blockchain technology is a revolution and we need people.”