Moonstake Web Wallet Provides Staking Support for Cardano ADA

Aug 22, 2020 22:00 JST

Source: Moonstake

SINGAPORE, Aug 22, 2020 - (ACN Newswire) - 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.

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.

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.

For more information about Cardano and ADA staking, please visit www.moonstake.io/ada

About Moonstake Pte Limited (www.moonstake.io).

Moonstake was established to develop a staking pool protocol to satisfy increasing demand from regional and global blockchain markets. Staking adopts Proof of Stake (PoS) as a type of consensus algorithm which allows cryptocurrency holders to increase the likelihood of receiving block rewards from a block validation transaction. POS brings together the ability to stake and ultimately distributes block rewards based on contribution. Moonstake develops a staking pool protocol and provides business services through partners and companies. Staking is expected to elevate blockchain technology and work towards decentralization.

Moonstake aims to create the largest staking pool network in Asia, and a robust environment for cryptocurrency holders Establishing a clear partnership roadmap with Moonstake represents another significant milestone for continuing to strengthen ties with leading platforms across Asia's burgeoning Distributed Ledger Technology (DLT) ecosystem. Partnership has been announced with Ontology and NEO, Binarystar, Japan's biggest blockchain hub, OIO Holdings Ltd (SGX: OIO), a Singapore Catalist-listed company, and Quras, PundiX and Wanchain, to create a more prosperous Asian ecosystem. Noted industry advisors such as Lisk, Mr. Nizam Ismail, CEO of Ethikom Consultancy, and Mr. Garlam Won, Head of Marketing at Harmony, support Moonstake's innovative journey.

Source: Moonstake
Sectors: FX & Digital Currencies, FinTech & Blockchain