Cardano Network Users Can Now Stake ADA Coins in Up to Ten Pools with Lace 1.7 Upgrade
The Lace team has announced an upgrade to version 1.7 of the Lace protocol, a web3 wallet developed by IOHK Group, the developers of Cardano (ADA). This upgrade allows Cardano users to stake and delegate their ADA coins to up to ten staking pools, increasing the decentralization of the network.
In addition to the ADA staking changes, the Lace team has implemented bug fixes that improve the user interface and facilitate the mainstream adoption of web3 products. These upgrades aim to enhance the mainnet of Cardano and enable its smart contracts to compete with other layer-one blockchains.
The Lace 1.7 upgrade includes several notable improvements. It incorporates more multi-staking options and addresses bugs identified during the beta phase. One of the key enhancements is the ability for users to stake their ADA coins in up to ten staking pools, doubling the previous limit of five.
The Lace team has also introduced bug fixes and a new balancing feature with the 1.7 upgrade. Users now receive a warning banner in the staking section of the Lace web3 wallet if their portfolio is drifting, allowing them to make the necessary adjustments. Additionally, an upgraded pool alert for retirement and saturation has been introduced, ensuring that Lace users are well-informed about multi-delegations.
The Lace 1.7 upgrade includes improvements to responsiveness and user experience. Dynamic buttons have been added to simplify portfolio adjustments, and pool card designs in the portfolio management drawer have been upgraded.
Notable bug fixes in the Lace 1.7 upgrade include correcting the display of Total Rewards and Last Rewards in the staking section to provide accurate and timely data. The issue of displaying “No Funds” in the staking section has also been resolved. Furthermore, the display of long staking pool names has been improved.
The Lace 1.7 upgrade is a significant step towards decentralization and the mainstream adoption of ADA web3 products. Currently, there are approximately 22.98 billion ADA staked across 3,117 staking pools, with 10.04 million ADA distributed in rewards. This upgrade is expected to have a positive impact on the price of ADA, which has already seen a 35 percent increase in the past four weeks, trading at around 38 cents.
For more information about Cardano and its features, you can refer to our recommended resources, including a Cardano buying guide, a Cardano wallet tutorial, and the latest Cardano price updates.