Logo
Cardano Ecosystem

BitcoinEthereumNews

05/24/2021

·

960 views


There Are Now A Million Active ADA Wallets On The Cardano Network ⋆ ZyCrypto

The post There Are Now A Million Active ADA Wallets On The Cardano Network ⋆ ZyCrypto appeared on BitcoinEthereumNews.com. Advertisement &nbsp &nbsp The Cardano community has yet another reason to feast. The network has finally achieved a critical milestone...

There Are Now A Million Active ADA Wallets On The Cardano Network ⋆ ZyCrypto

The Cardano community has yet another reason to feast. The network has finally achieved a critical milestone of 1 million ADA wallets.

It’s not a secret that ADA has been in the headlines of late after the coin gained by huge margins over the past few weeks.

ADAUSD Chart By TradingView

As of now, ADA is trading at $1.5, a comparatively fair value despite having lost roughly 30% of its previous standing over the last week. This is understandable given that the entire crypto market, led by Bitcoin, is currently striving to recuperate from the Elon-Musk-induced fall.

Staking

The exponential increase in the number of ADA wallets on the Cardano network can be attributed to the recent upgrade that introduced smart contract functionality on the network.

Now, ADA holders can join stake pools and earn interest on their investment as they support the network. Right now, about $33.95 billion worth of ADA is held in stake pools across the world. That accounts for 70% of the total ADA coins in existence, and they’re held in roughly 2,500 stake pools.

Charity On Cardano

Even more, around half a billion worth of ADA is earmarked for charity-oriented activities, with any interest gained on the staked ADA to be donated to charity organizations. Cardano has identified over 100 charity organizations that will benefit from this initiative. 

To further declare its commitment to this vision, Cardano is collaborating with NGOs like ‘Save the Children’ to allow the organization to receive donations in ADA without having to convert in fiat first. This means that Cardano users can donate their ADA directly without involving any fiat bases, and that’s a great development.

Close To 2,000 Developers

Evidently, the Cardano network has gained quite a reputation of late, and many developers have flocked in to benefit from the greatly accommodating network.

The Cardano Community estimates that over 1,500 developers have already joined the Plutus Pioneer Program. In fact, some analysts have been quoted saying that a lot of developers will be leaving other blockchains for Cardano.

Source: https://zycrypto.com/there-are-now-a-million-active-ada-wallets-on-the-cardano-network/

Post navigation

AD

Proposals Catalyst F14 - Cast your vote, search "Otavio" in the Voting App.

If you are you using your ADA to vote in Cardano’s Project Catalyst don’t forget to voice your vote. We would be excited if you can see, comment, share and vote for us. Tip: To find them its easiest to search for "Otavio"Vote for Us


Read Original Article on BitcoinEthereumNews

ORIGINAL SOURCE

https://bitcoinethereumnews.com/technolo...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


More from BitcoinEthereumNews

See more
Cardano (ADA), Solana (SOL), and TMS Network (TMSN) Offer Exciting Opportunities for Crypto Investors in Q3 2023 – Cryptopolitan - BitcoinEthereumNews.com
BitcoinEthereumNews
Cardano (ADA), Solana (SOL), and TMS Network (TMSN) Offer Exciting Opportunities for Crypto Investors in Q3 2023 – Cryptopolitan - BitcoinEthereumNews.com

03/15/2023

·

1.7K views

Related News

See more
Voting for Us - Catalyst Fund 14

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)