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Cardano Reaches the 1 Million Wallets Staked Milestone

Amy Liu

Summary: Cardano‘s founder Charles Hoskinson tweeted that the network reached an “incredible milestone” as the number of wallets staking ADA reached 1 million. This feat records an almost 1000% growth in less than a month. Cardano’s Proof-of-Stake consensus mechanism allows ADA holders to delegate their tokens in order to participate in the network and earn rewards ...

Cardano‘s founder Charles Hoskinson tweeted that the network reached an “incredible milestone” as the number of wallets staking ADA reached 1 million. This feat records an almost 1000% growth in less than a month.

Cardano’s Proof-of-Stake consensus mechanism allows ADA holders to delegate their tokens in order to participate in the network and earn rewards according to the amount that they have delegated. Over 71% of all ADA currently in circulation has been staked, which was worth around $33 billion at press time.

By Amy Liu

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