Cardano (ADA) largest sstaking pools as of January 10, 2022

Staking Cardano is especially done on single pool operators, although the 62 ADA pools of Binance did attract several billions worth of staked value. Staking pools work somewhat similar to a bank account, where one would submit money to be held and gains interest as time goes by. In the case of Cardano, an owner of this cryptocurrency would first load his or her own onto the Daedalus wallet - the official wallet associated with the Cardano blockchain - or another popular Cardano wallet like Yoroi. Then, the user would pick a pool available within that wallet to delegate his or her coins to, in the hopes of eventually getting the rewards of additional cryptocurrency. This interest mechanism called "Proof-of-Stake" or PoS: people - or "validators" - commit - or "stake" - their own cryptocurrency in an automated system - often a wallet, where people will simply hold their crypto - which at certain times will randomly pick a person who gets to validate a batch of blockchain transactions and gains new cryptocurrency as a reward. The staking pools serve as an easy point of entry for those who do not have a lot of cryptocurrency - and might have less chance to get picked than those who do have many ADA coins - or lack the technical know-how to validate blockchain transactions.