Today, Moonstake announced the support of staking Cardano’s cryptocurrency ADA, one of top 10 cryptocurrencies by market cap, in Moonstake’s Web Wallet. After Cosmos, IRISnet, Ontology, Harmony and Tezos, Cardano became the 6th available coin on Moonstake Web Wallet.
Recently, Cardano launched the long-awaited Shelley Mainnet. The launch of Shelley has now brought about opportunities for ADA users to stake their ADA and help Cardano transition from a centralized, federated system to a fully decentralized one with delegated staking features & rewards incentives. Shelley is the most significant upgrade to Cardano since its inception, bringing about a new system architecture and an entirely new set of user functionalities.
Moonstake entered into partnership with Emurgo, a founding partner of Cardano protocol, on August 11, 2020. This partnership creates synergies by jointly driving blockchain staking activity and accelerating industry adoption of staking within Cardano’s ecosystem. Moonstake’s newly added ADA as a stakable coin promotes staking adoption of Cardano regionally and globally.
Moonstake Wallet is a universally advanced staking wallet that can store up to 2,000 cryptocurrency types and stake major coins. The Moonstake Wallet not only provides enterprise-grade security, but also a staking function to give users full control over their digital assets. Along with the launch of Shelley mainnet, Moonstake Wallet immediately started supporting ADA to receive, store and transfer ahead of major crypto wallets, and now ADA staking is onboard.
In this initial period of supporting ADA staking, only desktop browsers of Chrome, Edge, Firefox and Opera as well as browsers of Chrome and Firefox on Android allow users for staking. Users of Internet Explorer and Safari, and iOS mobile users are required to download available browsers on desktop for access.
<from Cardano Github – Browser Compatibility>
Here’s a simple 3-step process to stake ADA on Moonstake Web Wallet:
1. Register your mobile Moonstake wallet (https://wallet.moonstake.io) *For new users
2. Add ADA with “Add New Asset”
3. Click the “Stake Now” button
The whole amount of ADA in your wallet will be staked although you can still send assets while you are staking. If your balance is less than 5 ADA, you will not be able to stake.
For more information about Cardano and ADA staking, please visit moonstake.io/ada
ABOUT MOONSTAKE PTE LIMITED
Moonstake was recently established to develop a staking pool protocol to satisfy increasing demands in regional and global blockchain markets. Staking adopts Proof of Stake (PoS) as a type of consensus algorithm which allows cryptocurrency holders to increase the likelihood of receiving block rewards from its block validation transaction. It brings together the ability to stake and ultimately distributes block rewards based on contribution. Moonstake develops a staking pool protocol and provides business services through partners and companies. Staking is expected to help elevate the blockchain technology and work for decentralization.
Moonstake aims to create the largest staking pool network in Asia, a robust environment for the cryptocurrency holders is one of its missions. Establishing a clear partnership roadmap with Moonstake represents another significant milestone for continuing to strengthen ties with leading platforms across Asia’s burgeoning Distributed Ledger Technology (DLT) ecosystem. Lately, partnership has been announced with Ontology and NEO, Binarystar, Japan’s biggest blockchain hub, OIO Holdings Limited (SGX: OIO), a Singapore Catalist-Listed company and Quras, PundiX and Wanchain to create a more prosperous ecosystem together in asia. Industry’s reputed advisors, such as Lisk, Mr. Nizam Ismail, CEO of Ethikom Consultancy and Mr. Garlam Won, Head of Marketing at Harmony, support Moonstake’s innovative journey.