Cardano is Staking Leader in the Crypto Market

By Simplify Crypto | Simplify Crypto | 20 Apr 2021

The Cardano protocol once again surpassed that of Polkadot in staking investments.

The data was provided by the CryptoDiffer platform and presented in a post on Twitter.

The Solano protocol, which entered CoinMarketCap's TOP 20 recently, is in third place.

The graph shows that users of the Cardano protocol approximate $ 28.95 billion dollars on their platform.

In contrast, the PolkaDot protocol maintains approximately $ 25.43 billion.

The Cardano protocol released staking less than 1 year ago, and already has more than 2,300 active pools on the network.

Proof of participation protocols (PoS) depend on coins deposited in staking.

This is because PoS uses a deterministic algorithm to select nodes based on the number of tokens held.

Thus, the probability of selecting a node is proportional to the number of tokens held.

Therefore, the more tokens blocked in staking, the greater the chances that a network node will write the block and earn the reward.

Therefore, users of a protocol when they keep their tokens staked to the network, they receive the rewards that have made decentralized finance protocols evolve.

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Simplify Crypto
Simplify Crypto

Trying to help people to understand the crypto world from the basic concepts to the crypto projects purpose. My articles are publish in Publish0x and Hive

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