What can you do with ADA?

2021-07-10 00:00:00 +0000

Ada is a digital currency. Any user, located anywhere in the world, can use ada as a secure exchange of value – without requiring a third party to mediate the exchange. Every transaction is permanently, securely, and transparently recorded on the Cardano blockchain.

Every ada holder also holds a stake in the Cardano network. Ada stored in a wallet can be delegated to a stake pool to earn rewards – to participate in the successful running of the network – or pledged to a stake pool to increase the pool’s likelihood of receiving rewards. In time, ada will also be usable for a variety of applications and services on the Cardano platform.

What is staking?

2021-07-01 00:00:00 +0000

There are two ways an ada holder can earn rewards: by delegating their stake to a stake pool run by someone else, or by running their own stake pool.

The amount of stake delegated to a given stake pool is the primary way the Ouroboros protocol chooses who should add the next block to the blockchain, and receive a monetary reward for doing so.

The more stake is delegated to a stake pool (up to a certain point), the more likely it is to make the next block – and the rewards that it earns are shared between everyone who delegated their stake to that stake pool.

Delegation is the process by which ada holders delegate the stake associated with their ada to a stake pool. It allows ada holders that do not have the skills or desire to run a node to participate in the network and be rewarded in proportion to the amount of stake delegated.

With just a few clicks in your Daedalus/Yoroi wallet you can access MILKY pool. Once you are staking within the pool your payouts are automatically sent directly to your wallet every epoch. You will never have to worry about maintenance, operations or updates. It’s all handled by me. The best part about staking is your ADA never leaves your wallet & you will always remain in control of your funds, whilst earning rewards & helping decentralization!

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2016-08-24 00:00:00 +0000

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2016-08-23 00:00:00 +0000

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