Hello Everybody,
The last two weeks I have been working intensively on setting up a Cardano stake pool. Translated to Steem parlance a stake pool is a witness. Since Cardano is POS rather than DPOS there are no votes and the majority of the rewards are paid to the ADA holders rather than to the pool operators. The latter can configure their pools to take a fee which is publicly visible to holders when they chose a pool to stake with.
At this time staking still runs on a test net but the rewards will be converted to real ADA at the end of the test period. This provides the Cardano team with an opportunity to watch how the incentives play out.
Everybody who held ADA in a Daedalus or a Yoroi wallet on November 29th can begin to earn ADA rewards by staking.
I have chosen to setup my own pool to make the network a tiny bit more decentralized but I could just as well have chosen one of the fellow pools to stake my ADA.
My pool is called "Kontiki" (KNTI), and you are welcome to use it for your staking, too. You can see all pools on adapools.org and you will be able to select one directly from the Daedalus or Yoroi test net wallet, once they are released (in a few days).
If the above sounds too cryptic for you, then don't worry and check back with Cardano in three to six months to see if staking started on the mainnet.
What fascinates me about Cardano is their scientific approach to crypto and their rigorous thinking. Typically in software, people have learned to shoot for an MVP, storm to market, and fix the issues later. Such an approach, however, does not work for software that steers SPACEX's falcon 9, nor it does not work for crypto networks. Cardano has realized this right from the start and tailored their design and development principles accordingly.
Onward and Upward!
Yes everyone says so about their scientific approach, what fascinates me more is their legal approach. It will be nice to see what Cardano brings to DeFi, upward and onward it is.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Cool, I will join you there when staking delegation is enabled!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Cardano is considered as the third generation Blockchain.
Its scientific approach and peer-reviewed academic research guarantee a unique development model in the crypto ecosystem.
It is also developed based on a scientific philosophy, and has a team of qualified academic experts and engineers.
Good choice you have made: work with Cardano.
I predict many successes.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hello @mariusfebruary had time that I didn't see, a few days ago I commented with another user. and Every day I visited his blog.
It's good that I'm back and with good news that in the future we'll all benefit.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Smart contracts are a field of software engineering where there is little tolerance for failure. There is a great need for rigorous testing and even formal verification. That is one limiting factor to the mainstreaming of smart contracts. The more complex they are the more chance of error there is.
Very high-quality standard libraries are a minimum requirement.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yes, absolutely.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks @mariusfebruary for your very interesting post.
You are right, it sounds very criptic for me, but I'll do my best to understand.
Thanks a lot.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Exactly I was going to say your post sounds or seems very cryptic but like you also confirm at the end, it sounds interesting Howbeit and I hope vto check back in months time
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
@tipu curate
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Upvoted 👌 (Mana: 0/3 - need recharge?)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Excelent notice, congrats for your pool. Cheers!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @mariusfebruary! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Dear @mariusfebruary
Excellent information however I have a question. A Venezuelan mortal like me can belong to that group that you are creating or what I should do for that if I can belong-
Yours.
Lanzjoseg
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks @lanzjoseg. I have the same question.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yes, in principle, all mortals can join :-) - Cardano is permission-less. However, mortal or immortal, at the moment only people who held ADA in a Daedalus or Yoroi wallet on November 29th can participate in the current test phase. In a few months, staking will come to the Cardano main-net at which point everyone will be able to delegate. I will be glad if you join my pool :-)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks for using eSteem!
Your post has been voted as a part of eSteem encouragement program. Keep up the good work!
Dear reader, Install Android, iOS Mobile app or Windows, Mac, Linux Surfer app, if you haven't already!
Learn more: https://esteem.app
Join our discord: https://discord.me/esteem
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Agradecida @mariusfebruary con tu apoyo sp
Grateful @mariusfebruary with your support sp
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I have to take a second look at Cardano. I watched a video at some point (I can't remember if it was part of Coinbase Earn), but I've forgotten what it does. It sounds like there are some serious people behind the project.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Indeed. Their co-operation with scientists is not an afterthought but it was the start. I have seen many projects that started hacking on assumptions and then started to hire scientists after they hit a roadblock. The latter has been very successful in software but IMHO only works for non-mission critical applications. Money is not one of them. That is why I like and back Cardano.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hello how are you?
You had a lot of time that you didn't publish.
Wao, it sounds very interesting, but I don't know any of those cryptocurrencies, I hardly know Steem, which really is a blessing ... but I would like to win other crypto. I think you know several. I would like you to recommend me some, if you have time, but that I can be obtained without having to invest money, because I do not have money to invest. Thank you very much in advance.
Good day!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This is all good but if nobody is buying and everybody is only earning, the token will not have any value. Just like digital points system. Or Facebook likes. I can say "I'm earning Facebook likes" but nobody can buy them. Am I correct, @contrabourdon?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hello friend, how are you? You're right, but as long as we have this hyperinflation here in Venezuela, we find it difficult to invest. I hope that next year will be better and I can invest, mainly in steemit,
Happy weekend!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit