Cardano (ADA) Staking
How to Stake ADA in Atomic Wallet
The process of ADA staking with Atomic Wallet is very simple. First, you need to download and install the app. Then, follow these steps:
Step 1. Open Atomic Wallet.
Step 2. Get ADA. You can buy ADA elsewhere and send it to your Atomic Wallet or exchange it right in the app
Step 3. Then click on ADA from the coin list.
Step 4. Click Stake.
Step 5. You will see the staking interface: your available balance for staking, your staked and unbonding ADA, and rewards. Click Stake to proceed.
Step 6. Here you can choose only one validator at a time by clicking on the name and see your yearly earnings. Check the info and click Stake. Your funds will be locked in a separate address.
Step 7. That’s it! Your ADA is now staked. You just need to wait — the reward is generated with every block. Click Claim to withdraw it to your address from time to time.
Cardano is a proof-of-stake platform blockchain founded based on scientific, peer-reviewed methods in its development. It brings together novel technologies to come up with first-in-class secure, and sustainable solutions in the development of decentralized applications. One of Cardano’s goals is to become a positive change force by creating accountability in existing systems. Some of the core features that make Cardano stand out are as below:
Ouroboros is Cardano’s peer-reviewed proof-of-stake blockchain protocol that allows for the decentralization of the Cardano project. It’s designed in such a way that it enables for Cardano scalability in a sustainable yet secure manner. One of the core concepts in the makeup of Ouroboros is the mathematical concept of infinity. This means Cardano can be used to develop an unlimited number of applications without affecting the efficiency of the whole network.
Cardano Is Evidence-Based
One of Cardano’s core strengths is that every aspect of the project is based on hard science. It is made using formal methods, allowing it to stay adaptable to new challenges that might test the capabilities to function optimally. Before anything is implemented on Cardano, it is first researched and mathematically modeled. This process’s results inform the development, making the Cardano code one of the best when it comes to code assurance.
Cardano is easily one of the most secure platform blockchains in the crypto space. This can largely be attributable to its scientific approach to development. By its design, Cardano’s Ouroboros is secure from bad actors and Sybil attacks. On the Cardano blockchain, every transaction and exchange is transparent and immutable. Transactions are also validated by the use of multisignature and an extended UTXO model that mirrors that of Bitcoin.
Cardano is one of the most open and transparent projects in the market. To keep the network working optimally, Cardano has a reward mechanism through which users can participate in the system. The main way that one can take part in keeping Cardano healthy and working is by staking. This can be done either as a stake pool operator or as a stake delegator. This approach allows everyone to have a say in Cardano’s direction, including the introduction of new capabilities to the network.
Thanks to Ouroboros, Cardano is one of the most scalable platform blockchains in the market. That’s because it uses Proof-of-Stake and does not require insane amounts of energy to meet growing user needs. It also combines a number of other unique concepts such as multi-ledger, side chains, and parallel chains allowing it to handle any amount of transactions simultaneously.