We are now seeing more and more investors turning to staking. The drawbacks of actively trading in the volatile cryptocurrency industry, along with the advantages that come with staking, are driving investors to stake.
Following the launch of smart contracts on the Cardano network, the Cardano blockchain has gained a lot of traction with hopes of users seeing it become the next Ethereum killer getting rekindled.
The cardano team, led by Charles Hoskinson, has toured around the world to seal deals that have already seen Cardano set up for real use cases in these industries. As such, Cardano is quickly gaining an edge for itself as the go-to network with capabilities to support a variety of dApps in a variety of industries, including finance, healthcare, education supply chain management, and more.
The most attractive feature of the Cardano blockchain seems to be PoS. PoS allows users to stake or commit their money to support the blockchain network and confirm transactions in exchange for rewards.
During the Alonzo upgrade, with the introduction of “Goguen”, a feature that adds the ability to build decentralized applications (DApps) on Cardano's solid foundation, the POS staking feature has become important in Cardano's roadmap, and more and more who see ADA's price increase. attracted many users.
One of ADA's most successful achievements has been ADACash on BSC. Since its launch in early November, the coin had reached a market cap of $40 million, reaching 10,000 holders in less than two weeks. They are increasingly investing their earnings in staking as they see ADA as the next generation yield generator.
Besides the fact that Cardano staking is safe, given that users' coins do not leave their wallets, validators seem to be rewarded in a way similar to earning interest in a savings account. Also, unlike networks like Ethereum, they can remove and transfer their coins whenever they want.
According to Richard Salmond from Investing.com;
"Such dynamics are not surprising if we consider the utility ADA has as an asset worth owning just to generate returns in the form of rewards."
He, like other ADA users, believes that as the Cardano network continues to grow, more validators will join the majority, posting the coin market cap of over $500 billion, more than ten times the current $45 billion market cap by 2025.