Cardano Introduces Game Changing Staking Feature
Staking plays a pivotal role in fostering decentralization within the cryptocurrency industry, and Cardano looks to be at the forefront of this movement as one of its early adopters.
With more than 1.3 million stakers on the network, the Proof-of-Stake (PoS) chain and its ecosystem are continuously innovating to enhance the accessibility and decentralization of network participation and staking.
The latest addition to Cardano is a unique feature provided via Lace Wallet, namely multi-pool delegation.
Using a distinctive approach, Lace Wallet generates multiple stake keys within the same account, creating a fresh address for each pool with a predefined amount of ADA tokens the user wishes to stake. This allows ADA holders to simultaneously stake their tokens in up to five distinct pools, thereby diversifying their stake across various Stake Pool Operators (SPOs) within the Cardano network.
This move fosters a more decentralized network with a wider array of block creators. From the perspective of SPOs, the new feature grants them the ability to attract more users, as they are no longer constrained to support just one pool.
Initially, users can select a fixed ratio for distributing their stake among these five pools. However, Lace Wallet has indicated that this ratio may be subject to adjustment in future updates.
Regardless, the feature plays a crucial role in promoting true decentralization. By allowing ADA holders to stake their tokens across multiple SPOs, Cardano aims to mitigate the risk of centralization while providing a more widely distributed network, one which aligns with the overall core vision of Cardano.
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