Stake with Cardanos 3rd generation Blockchain
Ouroboros is the first proof of stake protocol that has mathematically been shown to be provably secure, and the first to have gone through peer review through its acceptance to Crypto 2017, the leading cryptography conference. The level of security demonstrated by Ouroboros compares to that of Bitcoin’s blockchain, which has never been compromised.
Leave us to do all the hard work!
Simply stake your ADA directly from one the below wallets to the CheapStakes pool.
Your coins are 100% SAFE as they do not leave your personal wallet.
It is similar where those who participate earn rewards, but different to mining as it requires no equipment. Instead of miners, there are validators. The validators lock up some of their ADA as a stake in the ecosystem to a particular pool (cheapstakes pool). Following that, the validators bet on the blocks that they feel will be added next to the chain. When the block gets added, the validators get a block reward in proportion to their stake.
No risk, except that if a pool goes down, you will start getting no rewards (imagine setting and forgetting and finding out your friends pool shutdown months ago), so you need to monitor and make sure you pick a stable pool, which is why selecting CheapStaking as your preferred ADA pool is a no brainer!
Yes, you will be able to delegate to a pool from a hardware wallet or a paper wallet.
More details will be announced as they are released by Cardano, for an estimated reward see our calculator here.
Detailed instructions will be provided in due course closer to go live dates.
Cheapstaking.com will launch with a low fee of 2% on reward transactions. These fees help cover infrastructure and monitoring costs. Using Azure cloud we can ensure a 99.9% up-time with advanced DDoS and Security. Whist many home based operations are offering 0% fees, a lower up-time will lead to lower reward compared to a fee based pool with higher up-time.
Staking is currently in development by Cardano, due to be released at the end of Q4 as part of the Shelley era - our pool hopes to go live with this release out of the gate (depending on when decentralization for shelley is enabled).
We will see the introduction of a delegation and incentives scheme, a reward system to drive stake pools and community adoption. As a proof-of-stake network, you will be able to stake your ADA to participate in the network with the CheapStaking StakePool.
How we compare with other Stake Pools
|Some link from 4chan||Home server based pools||CheapStaking.com|
|Low transaction fees||v||v||v|
|Lovers of Cardano||v||v||v|
|Powered by Linux||v||v||v|
|Early testnet participant||?||?||v|
|Easy to join||v||v||v|
|Protects your privacy||v||v|
|Distributed help & Support||v|
|High stake holdings||v|
|Run on a enterprise grade cloud (Microsoft Azure)||v|