It’s the moment we have all been waiting for and working towards… staking on Cardano has arrived, with the release of the the v1 Daedalus Rewards wallet for the Shelley Incentivized testnet! The wallet is available now for download from the link below. Use it to restore your mainnet balance in testnet ada, browse all the stake pools and delegate your funds to start earning real ada rewards.
Is now ready for the ITN!
Trust but verify!
You can find rADAr on the blockchain at
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Cardano is a proof of stake system, so holding stake, i.e. owning Ada, means more than holding Bitcoin means for the Bitcoin protocol.
You may choose to delegate your stake to a "staking pool". By being part of a larger pool all participants share in the cost of keeping a node up and running all the time and also share chances of being the slot leader. Rewards and running costs are shared with all participants in the pool.
As Cardano is a proof-of-stake system, holding stake, or owning ada, means that you can buy goods or services with your purchase and payment power. In addition, you also have the right and obligation to participate in the protocol and create blocks.
These two uses can be separated by the delegation mechanism, meaning someone who owns ada can keep the spending power, while delegating the power to participate in the protocol to someone else, a stake pool. It is important to note that funds can be spent normally at any time, regardless of how they are delegated.
A stake pool is a reliable server node that focuses on maintenance and holds the combined stake of various stakeholders in a single entity. Stake pools are responsible for processing transactions and producing new blocks and are at the core of Ouroboros, the Cardano proof-of-stake protocol. To be secure, Ouroboros requires a good number of ada holders to be online and maintaining sufficiently good network connectivity at any given time. This is why Ouroboros relies on stake pools, entities committed to run the protocol 24/7, on behalf of the contributing ada holders. While Ouroboros is cheaper to run than a proof of work protocol, running Ouroboros still incurs some costs. Therefore, stake pool operators are rewarded for running the protocol in the form of incentives that come from the transaction fees and from inflation of the circulating supply of ada.
Participating in the Cardano protocol incurs far less computational costs than participating in Bitcoin. Nevertheless, having slot leaders online when it is their turn to create a block or to participate in the election process is important for both the security and efficiency of the protocol. Thus it is our goal to keep our server on-line 24/7/365 with backup (if possible!) in case of downtime. There will be a link here with available statistics.
While Ouroboros is cheaper to run than a proof of work protocol, running Ouroboros still incurs some costs: electricity, network connectivity, equipment depreciation.etc.
Therefore, stake pools are rewarded for running the protocol in the form of incentives that come from the transaction fees and from inflation of the circulating supply of ada.
Fees will be 250 ADA ($1) per Epoch to cover costs and a small margin of 5.95%
How Staking Works
What is Cardano? https://www.cardano.org/en/what-is-cardano/
What is Daedalus? https://iohk.io/projects/daedalus/
Design Specification for Delegation and Incentives in Cardano
About how much is the staking reward?
Cardano Forum https://forum.cardano.org/
Cardano Telegraph https://t.me/CardanoGeneral
The Cardano Effect https://www.youtube.com/channel/UCdsCDVHKVIuTlziDW7Wg3NQ
Daedalus is a full node, meaning you must download the entire blockchain to use it. It's developed by IOHK, the blockchain research and development company behind Cardano. It is very safe. Only you control your keyes.
With Daedalus you can create paper wallets. In my opinion this is probably best option for security until Ledger Wallet becomes available. Print the pdf Verify the key, and place a copy of the PDF in your Safe Deposit box. (And maybe another in your other SDB ;) )
LedgerHQ just recently announced support for cryptography required for Cardano. Now there is a dedicated team of people working on Ledger support for Yoroi and then Daedalus. We were already preparing for the support, but it was impossible to finish without this cryptography on Ledger side. Now it's in further progress.
Yoroi is a light wallet for Cardano. It’s simple, fast and secure. You can stake right from Yoroi. As a Chrome plugin, Yoroi looks to be a day to day wallet for a Cardano user.
Innovative and Fast! Yoroi is a light wallet for Cardano. There is no need to download the blockchain when you open the wallet. So you are ready to send and receive transactions right away.
Secure with High-quality code, thoroughly tested, security audited and more to make sure that Yoroi works flawlessly. Private keys are encrypted and never shared with Yoroi servers or third party providers.
You will soon be able to recreate paper wallets and stake from Yoroi. You can also use Yoroi with Trezor
Sign up so we can let you know when we go live! email@example.com twitter @poolradar
Your Ada currency should never leave your wallet when you stake with us or anyone else. By staking you are only delegating the slot production rights of your Ada holdings to the chosen pool and you continue to keep your Ada currency in your wallet. Never send Ada currency to any pool. If a pool asks you to send your Ada to their wallet, it is a scam.