As Cardano (ADA) continues to grow, the community behind it is growing exponentially. The idea of decentralization and immutability has been at the core of many projects for decades now, but with recent events such as TRON’s success that concept seems more tangible than ever before.
Cardano (ADA) stakers grew by over 100,000 since September. However, much more work still needs doing to make the cryptocurrency a success. Read more in detail here: will cardano make me rich.
Staking addresses have increased by over 100,000 in only two months, indicating that Cardano is on the rise.
On November 10, staking addresses reached 942,000, according to the public staking data website pooltool.io. On September 10, there were 821,000 staking addresses, a rise of 121,000 or roughly 15% in only two months.
The figures are encouraging in terms of on-chain proof of Cardano’s rising reputation as a long-term blockchain. However, as IOHK’s Director of Marketing and Communication, Tim Harrison, pointed out, many difficulties remain, and the best approach to address them is to make little improvements over time.
Staking indicators for Cardano reveal a healthy environment.
Cardano has experienced a large increase in the total USD worth of tokens engaging in staking, in addition to a big increase in the number of staking addresses.
The staked value of ADA tokens was $29.73 billion in mid-July, according to stakingrewards.com. However, the sum has now risen to $51.22 billion.
Solana was the third most valuable stock at the time, valued at $10.48 billion. However, in the past five months or so, it has surpassed Cardano as the most widely held cryptocurrency. Solana is now the biggest staked cryptocurrency project, with $97.79 billion invested.
Price activity for ADA has been generally flat since the Alonzo smart contract update was published on September 12, resulting in a slip down the top ten market cap rankings.
ADA touched a seven-week high of $ 2.39 on Tuesday after a 13 percent upward move, but the market lost all of those gains on Wednesday’s sell-off.
Furthermore, ADA is now 30% lower than its all-time high of $3.10 established in early September. This is seen by Twitchy investors as a hint that everything is not well, while other crypto initiatives, like as Solana, continue to gain traction.
Source: TradingView.com, ADAUSD
Improvement is ongoing.
IOHK CEO Charles Hoskinson has rejected the importance of short-term price movement. Strong principles and problem-solving, he continued, are the keys to staying in business for the long haul.
Similarly, Harrison believes that iteration and enhancement of network performance, rather than hype and marketing, will “win the race.” However, the best way to get to an ideal network is to take little increments.
In a recent blog post, he discussed IOHK’s attempts to increase throughput and improve dApp usability.
“These are modest modifications that will be phased in over the next several months to ensure that changes fulfill network needs while not jeopardizing various properties.”
Cardano is still in its infancy, with so much to accomplish.
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Cardano, Technology | Posted in: Cardano, Technology
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Cardano (ADA) stakers grow by over 100,000 since September, but much more work still needs doing. The “morning star cardano” is a cryptocurrency that has been in existence for several months now and has seen some growth recently.
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