Cardano Achieves a New Milestone, Adds 50,000 New Staking Addresses

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Cardano Based NFT DeFi platform, Spore Network Set to Launch Cardstarter IDO on July 21st
Cardano Based NFT DeFi platform, Spore Network Set to Launch Cardstarter IDO on July 21st

Cardano (ADA/USD) reached a new milestone with more than 50,000 new staking addresses. After the expansion, the blockchain platform now has over 658,000 staking addresses based on the data provided by the pool tool aggregation platform.

Cardano Hopeful on El Salvador Adoption of its Token

Charles Hoskinson, the founder of Cardano, recently stated that El Salvador will be the first country to adopt Bitcoin as legal tender and will soon turn to the ADA for similar reasons.

Speaking of the possibility of adopting Cardano, Hoskinson said his team was in currency talks with the Salvadoran government and the transaction would be confirmed shortly. In addition, he said he would have to come by in-person to finalize the deal.

A plan to surpass Bitcoin’s adoption

Hoskinson also pointed out that El Salvador’s plan to digitize its economy goes well beyond the introduction of Bitcoin (BTC/USD). According to him, it’s not just about adopting Bitcoin, but also fully legalizing it, which other countries haven’t done.

If trading becomes a reality, it will be a huge achievement for Cardano and its crypto assets.

Cardano’s Impact in the Market Lately

The proof-of-stake blockchain has been very busy lately. Hoskinson previously announced that the platform plans to publish a research paper on algorithmic stablecoins. The announcement coincided with the growing acceptance and improvement of the platform in the community. This has also had a positive effect on the price of its native ADA token.

Cardano also wants to examine the possibility of so-called stable fees: “These are linked to a number of currencies. The platform says it will offer predictable and fair prices.

Cardano has also entered into a collaboration agreement with the Ethiopian government to implement a blockchain-based student/teacher ID system that will be used to verify grades.