Cardano: staking at its debut
Cardano: staking at its debut
Blockchain

Cardano: staking at its debut

By Alfredo de Candia - 8 Dec 2019

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A few hours to the launch of the Shelley Incentivized Testnet that will finally allow you to exploit and test the power of the Cardano blockchain to become a delegate or a stake pool operator.

Only last month the various snapshot phases that allowed users to stake their ADA in order to obtain interests followed one another: in fact, whoever staked their ADA during the testing phase, would have kept the stake also on the mainnet.

Tomorrow the Shelley incentivized testing phase will start and consequently it will be possible to decide whether to become a delegator or a stake pool operator of the Cardano blockchain.

The delegator, and therefore the one who does the delegation process, is the one who holds the ADA and decides to put them (stake them) in a stake pool, because for one reason or another, he does not have the desire or the ability to manage his own node.

By participating in this way in the network, the delegator manages to obtain a premium, always in ADA, proportional to the amount of crypto that he decides to delegate to the stake pool.

As for the stake pool, this is nothing more than a group of people representing a node within the Cardano network that has a public address to which users can connect and “stake” (lend) their tokens so as to strengthen and increase the possibility for the node to become a “slot leader”. The reward, in this way, goes both to the node itself and to those who have given their tokens for that node.

One of the stake pools, obviously open source, is called Stakelovelace, which has an all-Italian team, but with nodes located throughout Europe.

By the end of the year, Cardano’s blockchain can certainly be talked about and even beat on time Ethereum (ETH) regarding the transition to PoS (Proof of Stake), since Ethereum 2.0 is scheduled for January 3rd of next year.

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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