Do I need to send my ada to stake?
No, your ada should NEVER leave your wallet or be sent to another wallet to stake. Please be cautious of staking sites asking you to send your funds or key phrase.
What is deligating to a 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.
What is Cardano?
Cardano is a 3rd generation decentralized public blockchain. ADA is the digital currency supported by Cardano. Visit Cardano.org to learn more about the company.
What does it mean to HODL?
HODL a term derived from a misspelling of “hold” that refers to buy-and-hold strategies in the context of bitcoin and other cryptocurrencies. Here is the humorous origin of the acronym.
What is cost per an epoch?
The Cardano protocol requires stake pool operators to charge a fee per epoch at a minimum of 340 ADA. At Bloom, we chose to go with the absolute minimum to provide the highest rewards for our delegates.
Can I DELEGATE TO MORE THAN ONE STAKEPOOL?
Yes, all of the ADA in your delegated address will be staked to your chosen stake pool, so when staking to more than one stake pool, it is necessary to create and send ADA to one address for each stake pool you wish to stake to.
Can I switch stake pools?
If you would like to delegate your ADA to another stake pool, simply select your new stake pool of choice from the official Daedalus or Yoroi wallets and select the stake option. Your new staking decision will then take effect in the epoch after next, with rewards from that new stake pool being visible at the beginning of the epoch after that.
is my ada at risk of loss from staking?
No, your ada never leaves your wallet to stake. Staking is a feature built within the Daedalus and Yoroi wallets that allows you to delegate your funds for a return on stake in the selected pool. Please see our engineer Peyton set up a staking wallet in our video : How to Stake with Bloom Pool.
Can I delegate to more than one stake pool?
Currently Daedalus does not have an option to split the ada within one wallet between multiple pools. This means that all ada within a wallet will be delegated to the pool of your choice. Although, if you choose to move some of your ada in to multiple wallets you can then delegate each wallet to a diffrent pool.
Is there a minimum for staking?
There is no minimum to delegate stake to a pool. Also, there are no hold times either. With a few clicks you can un-stake and use your funds whenever you like.
Is the cardano ecosystem the best?
What is a pool fee?
The pool takes a percentage of your rewards every epoch to ensure that the pool can provide reliable servers and have the ability to scale with Cardano as more features are built on top of the network.
what is an epoch?
An epoch in the Cardano network is considered a measurement in length of time. Each epoch contains 21,600 slots ( smaller measurement of time) average slot is 20 seconds and contains 1 block to be produced. So therefore each epoch is 5 days long. The Cardano network is currently working on Hydra which will allow epochs to be ran in parallel.
can I spend my ada while staking?
If you would like to spend or transfer ADA from a delegated account simply spend or transfer as much ADA as you like. The transfer will be instant and the remaining funds will continue to be staked, earning rewards until you choose otherwise.
All of the videos listed below are great resources for information.
All of the links listed below are great resources for information.
Big Pey Youtube
Big Pey is a youtuber in the community. Peyton is a great source for all up to date Cardano information. He is also a Cardano ambassador and stake pool operator. See Peyton’s site here
Cardano is a blockchain platform for changemakers, innovators, and visionaries, with the tools and technologies required to create possibility for the many, as well as the few, and bring about positive global change. See the Cardano site here
The Cardano effect
The Cardano Effect is a podcast ran by Philippe, Rick, and Sebastian. They take high level developer information and projects that are occurring within the Cardano space. See Cardano Effect site here.