Launched in 2017, Cardano is a Proof-of-Stake (PoS) blockchain powered by the Ouroboros consensus mechanism. Cardano’s network is designed with a strong governance model, a treasury system to fund development, and an upgrade system that avoids contentious hard forks. The platform offers flexibility, sustainability, and scalability for executing smart contracts, creating decentralized finance applications, crypto tokens, games, and other innovations. The native ADA token is used for transactions, securing the network through staking, and participating in governance.
You can effortlessly start to earn ADA through staking rewards with Bloq infrastructure. Contact us to discuss how we can support your ADA staking needs.
The primary and significant risk factor is if the user’s private key is compromised or misplaced (BloqStake is a non-custodial staking solution and does not hold the private keys). In the event that your node is offline during a scheduled block minting, and subsequently fails to fulfill its duties, you risk losing the opportunity to earn rewards for that particular block. Staking ADA currently has no slashing penalties for misbehavior.
Bloq infrastructure is non-custodial and allows you to stake your ADA while retaining control. At no point does Bloq hold your private keys nor will Bloq have access to withdraw the staked ADA.
To delegate a wallet for the first time on Cardano, an initial fee of 2.17 ADA is required, where 2 ADA is the delegation fee and ~0.17 ADA is the transaction fee. When a user decides to unregister their staking key, the 2 ADA delegation fee is refunded.
Although there is no mandatory minimum stake amount, node operators may choose to stake some or all of their stake to their node, which can increase their chances of being selected to validate transactions on the network. As a node’s staked ADA amount increases, so do the rewards earned, which can attract more delegations. Contact [email protected] to spin up your own dedicated ADA validator.
Cardano’s staking system allows users to stake their tokens without any lock-up or unbonding period. This means that stakers have the flexibility to withdraw their tokens whenever they want.
