Cardano Hits Over 700 Stake Pools Seven Days After Shelley Launch

Cardano hits over 700 stake pools only a week after the Shelley launch according to the reports by the IOHK parent firm as we are reading more in the upcoming Cardano ADA news today.

The metrics show that the booming demand behind the Shelley rollout with other implementations to be released soon, that 731 pools were active on the mainnet with upwards of six billion ADA locked up.

OUT NOW: Our first maintenance update to our new #Shelley wallet brings full stake pool listings to #Daedalus, along with a number of small but important improvements. Download Daedalus 2.0.1 today! https://t.co/A21FUZkeZ3 1/3 pic.twitter.com/OB8nFMw6Yq

— Input Output (@InputOutputHK) August 3, 2020

Just a few days ago, the first epoch of Shelley was launched therefore Cardano hits 700 stake pools that are now running on the Cardano network. The company noted an epoch 0 update report that will be released tomorrow doling out more data and metrics on the Shelley network activity. IOHK added that the team will be releasing regular updates with some new features and fixes over the upcoming days and weeks ahead. Cardano users have to keep their wallets updated for the best Shelley experience as some features include improved pool ranking and UI Enhancements according to IOHK.

In the meantime, the firm said that the maintenance update was made on the new Shelley wallet which brings full stake pool listings on Daedalus along with the number of smaller improvements. With the rollout, the Daedalus 2.0.1 is live but it doesn’t support incentivized Testnet rewards which were accessible previously via the workaround 2.0.0. Also, an official wallet redemption will be available in a Daedalus update later this week according to IOHK.

OUT NOW: Our first maintenance update to our new #Shelley wallet brings full stake pool listings to #Daedalus, along with a number of small but important improvements. Download Daedalus 2.0.1 today! https://t.co/A21FUZkeZ3 1/3 pic.twitter.com/OB8nFMw6Yq

— Input Output (@InputOutputHK) August 3, 2020

Cardano shifted from the old Byron mainnet to the Shelley mainnet via a hard fork. Shelley brings staking to the broader ADA ecosystem and sees Cardano move to the delegated proof-of-stake consensus design. Users can not stake ADA from their Ledger hardware wallets with 5 percent annual percentage yields on their amounts. Everyone that is interested can calculate potential rewards on the Cardano ADA calculator.

Charles Hoskinson, the CEO of IOHK stated that “decentralization was at the core of everything IOHK does.” The goal is to achieve true decentralization by creating a huge community of stakers that drive the project forward. This is now something previously seen in other mining-based cryptocurrencies such as ETH and BTC where the miners are controlling a whole bunch of the network.