Cardano reaches a new milestone, adds 50000 new staking addresses

By: Ali Raza
Ali Raza
Ali plays a key role in the cryptocurrency news team. He loves travelling during his spare time and enjoys… read more.
on Jun 28, 2021
  • Cardano says it has added 50,000 new staking addresses to its platform.
  • The blockchain platform is also discussing with the El Salvadorian government for the adoption of ADA.
  • Cardano is also exploring the possibility of ‘Stablefees,’ which will be pegged to a collection of currencies.

Cardano (ADA/USD) has hit a new milestone after adding more than 50,000 new staking addresses. Following the addition, the blockchain platform now has over 658,000 staking addresses, based on data provided by the Pooltool aggregating platform.

Cardano looking at El Salvador’s adoption its token

Cardano’s founder Charles Hoskinson recently stated that El Salvador, which became the first country to adopt Bitcoin as a legal tender, will soon approach ADA for a similar cause.

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

While speaking about the likelihood of Cardano’s adoption, Hoskinson stated that his team is currency discussing with the El Salvadoran government and the deal will be confirmed soon. Additionally, he said he will need to visit personally to finalize the agreement.

A plan that transcends beyond Bitcoin adoption

Hoskinson also noted that the plan by El Salvador to digitalize its economy far transcends Bitcoin (BTC/USD) adoption. According to him, the plan is not only about adopting Bitcoin but completely legalizing it, which no other country has done.

If the deal becomes a reality, it will become a massive achievement for Cardano and its crypto asset.

Cardano has been very busy in the market lately

The proof-of-stake blockchain has been very busy lately. Hoskinson earlier announced that the platform is planning to publish a research paper on algorithmic Stablecoins. The announcement coincides with the platform’s growing acceptance and improvement in the community. This has also impacted positively on the price of ADA, its native token.

Cardano also wants to explore the possibility of what it calls ‘Stablefees,’ which will be pegged to a collection of currencies. The platform says it will provide pricing that is predictable and fair.

Cardano is also involved in a partnership deal with the Ethiopian government for the implementation of a blockchain-based student/teacher ID system that will be used to validate grades.

Invest in crypto, stocks, ETFs & more in minutes with our preferred broker, eToro
10/10
67% of retail CFD accounts lose money