Cardano is a proof-of-stake blockchain platform: the first to be founded on peer-reviewed research and developed through evidence-based methods. It combines pioneering technologies to provide unparalleled security and sustainability to decentralized applications, systems, and societies.
Cardano restores trust to global systems – creating, through science, a more secure, transparent, and sustainable foundation for individuals to transact and exchange, systems to govern, and enterprises to grow.
Staking & Rewards
Ada held or owned on the Cardano network represents a “stake” in the network. Ada holders have the ability to delegate their ada to a stake pool (like Toba Mint) and earn rewards on their delegated ada.
The ability to delegate or stake is fundamental to how Cardano works and represents a stark contrast between the older, proof-of-work systems like Bitcoin and Ethereum. Proof-of-stake is a more sustainable, planet-friendly method of securing a network that doesn’t require the energy-intensive computations that proof-of-work systems require.
Active stake pools pay rewards of between 4 and 6% annually to their delegators. These rewards are paid out upon the completion of an epoch, or every five days and are automatically compounded.
“We’re putting cattle on the blockchain, and that seems like a simple thing, but how do you know the steak on your plate is safe? You trust the Food and Drug Administration (FDA), but what if the beef is imported… the USDA (U.S. Department of Agriculture) didn’t exactly monitor that during its life cycle so that’s another example of a multi-billion dollar product line and a little thing that Cardano can enable and do… You know, it’s going to be a crazy ecosystem by the end of the year and it’s going to be even crazier by 2022.“
-Charles Hoskinson, founder of Cardano
From a Yoroi wallet dashboard you’ll see a link “GO TO STAKING CENTER”. In the staking center you can browse through the list of stake pools or you can search for a specific pool. We wold love to have you join the Toba Mint stake pool, ticker symbol [TOBA]!
Once you’ve delegated your ada to a stake pool, you can monitor the progress of your rewards, which typically return around 4-6% annually. Keep in mind, you’ll be rewarded in ada, so imagine if the ada price climbs to 2, 5, or even 10x what it is today.