Cardano surpassed Polkadot to become the biggest staking network with 69% of its circulating supply staked

According to data from Staking Rewards, Cardano is one of the decentralized networks with 69% of the circulating supply that is staking. At press time, ADA surpassed Polkadot, becoming the biggest staking network.

cardano-surpassed-polkadot-to-become-the-biggest-staking-network-with-69-of-its-circulating-supply-staked

Source: Staking Rewards

Cardano surpassed Polkadot to become the biggest staking network with 69% of its circulating supply staked

Cardano is a very important project in the cryptocurrency ecosystem for the past few years. In it, IOHK has been in the process of expanding Cardano’s ecosystem and making it more self-sufficient.

Cardano has become the most decentralized network with 69% of its circulating supply staked. The seventh-largest cryptocurrency in terms of a market capitalization of $ 10.26 billion, surpassed Polkadot to become the biggest staking network. Polkadot had 60.87% of its circulating supply staked and was followed by Ethereum 2.0 which was noting only 1.53% staked.

IOHK CEO and Founder of Cardano acknowledged this development and noted that Cardano is also the most secure network.

Comparing competitive project Polkadot, one Twitter user stated:

Others, however, are dissatisfied with this achievement as the use of coins used for wagering is limited.

According to data observer Pieter Nierop, on average, 25.7 million new ADAs were staked per day over the past seven days. There were 1500 new delegates added to the network at the same time, while 1,895 new wallets were created on January 8.

Cardano’s blockchain platform has been trying to be used for everything from DApss to blockchain voting and everything in between. The IOHK Foundation has been working to make the Cardano system independent of its regulation and recently launched fund 3, to make community participation central to the Cardano ecosystem.

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