Cardano is a platform that deals with blockchain technologies from a team of developers known as Input Output Hong Kong (IOHK), headed by Charles Hoskinson, the former Ethereum co-founder. The product contributes to the growth and launch of decentralized applications, also creates voting services on the blockchain.
But, referring to the recent data from Staking Rewards data, Cardano has now emerged as the most decentralized blockchain technology network in the industry. Presently, over twenty-one billion ADA staked on their blockchain, depicting 69% of its overall circulating supply.
Cardano’s smart contract language permits developers to perform endways tests on their database without displaying their codes.
The blockchain has exceeded Polkadot as the most decentralized blockchain, which has been the first out of all blockchains talking about staked value. Cardano users have risked more than 21 billion ADA tokens that cost over six billion dollars, approximately 70% of all Cardano tokens. Hence, the project surpassed the previous leader Polkadot.
Data from AdaPools has made known the active stake or the entire quantity of ADA delegated at the end of the last period, currently evolving around 21.47 billion ADA. The active stake, which signifies the actual volume of ADA currently assigned to stake pools, stands at 21,750,541,767.
Cardano uses Ouroboros which is the first verifiable secured proof-of-stake protocol.
It has been a while since Cardano has been labeled the Ethereum killer. These could be trailed by better performances in 2021. Hoskinson encouraged the competition with his antecedent project several times in 2020 by pointing out the deficiencies of the Ethereum blockchain and outlining the benefits of the upcoming Cardano Blockchain.
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