Moonstake, a blockchain company focused on staking technologies, has announced staking support of 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.
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On July 29, the Cardano development team launched the long-awaited Shelley Mainnet. Shelley brings about opportunities for users to stake their ADA and help Cardano transition from a centralized, federated system to a fully decentralized system, with delegated staking features & rewards incentives. Shelley is the most significant upgrade by 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 entity of Cardano protocol, on August 11. This partnership creates synergies by driving blockchain staking activities and accelerating industry adoption of staking within the Cardano ecosystem. Moonstake’s 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.
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For this initial period supporting ADA staking, only desktop browsers Chrome, Edge, Firefox and Opera, and Chrome and Firefox browsers on Android allow users staking. Users of Internet Explorer and Safari and iOS mobile users are required to download available browsers on desktop for access.
Here’s a simple 3-step process for staking ADA on Moonstake:
1. New users must register their mobile Moonstake wallet (https://wallet.moonstake.io)
2. Then 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.
