Cardano Attracts 500 Stake Pools Just a Day After Shelley Launch
Cardano’s new Shelley upgrade has seen rapid growth in recent times while attracting hundreds of shareholders and pool members joining the network.
From now on users can delegate their ADA holdings to various independent pool operators and receive higher rewards. Half of Cardano’s test network operators have already switched to fixed networks, while the other half have not.
The Launch Stake Surge
At the time of its launch, there were 481 private equity firms, according to the press release. According to AdaPools.org, there are currently 416 active pools according to AdaPools.org, but their number is continually changing.
While seeing Cardano’s Testnet statistics that could predict future participation in the blockchain, as of June 22, Testnet had 1.5 million registered pools and 2.2 million active users, with a total of 4.7 million assets at stake.
While it looks like that the 500 other pools will move from the current fixed network to the Cardano test network as soon as possible, also, landlines that are more widely available could encourage more users and pools to participate in the build-up.
The reward period has not yet paid off, but Cardano estimates the average return at 4.6%, and current estimates suggest users could earn up to 5.1% a year.
Is Decentralization Cardano’s Main Goal
Charles Hoskinson, IOHK’s chief executive, said: “Decentralization is at the heart of our operations. Cardano seeks maximum Decentralization by encouraging the Community to distribute its wealth among the most significant number of participating communities.
In this respect, Cardano’s nearest competitor may be Tezos, which subsequently has about 425 active bakers with whom coin holders can share their cryptocurrencies with minimal effort and maintenance.
IOHK, meanwhile, argues that blockchain mining does not have that kind of Decentralization. Miners are concentrating on bitcoin and litecoin in a few small minefields, but it is still not clear whether blockchain is superior to mining or not.
On the other hand, Cardano hopes that its decentralization features will attract dozens of app and token developers to the platform over the next year.
