On Wednesday, Moonstake announced the support of staking ADA cryptocurrency in its Moonstake web wallet via a tweet.
Founded by Mitsuru and Alex Hui, Moonstake is a staking pool network consisting of multiple cryptocurrency holders. It works on the mechanism of block rewards to each partner for their contribution. Its mission is to grow a robust cryptocurrency network for users in Asia while building the largest staking pool network. And, this recent partnership with Cardano’s ADA, Moonstake has achieved a significant milestone in its mission.
Moonstake web wallet holds the capacity of up to 2,000 cryptocurrencies and stakes five major coins currently including Ontology, Cosmos, IRISnet, Tezos, and Harmony. With the addition of ADA, the counting is up to six now. Not only enterprise-level security, but Moonstake web wallet also provides you a staking function leveraging complete control over the digital assets.
ADA is the native token of Cardano. It is a sort of digital currency to support digital transactions securely from anywhere in the world. It is amongst the top 10 Cryptocurrencies according to the market cap, in the web wallet of Moonstake. On 11 August, Moonstake partnered with the founding partner of Cardano protocol, Emurgo. As per the partnership, both the organizations will work together for driving and accelerating the blockchain stake activity within Cardano’s ecosystem.
Cardano’s recent launch of long-awaited Shelley Mainnet has brought new opportunities for ADA staking users. It facilitates Cardano’s transition to a fully decentralized system with delegate reward incentives and staking features. Shelly Mainnet is said to be Cardano’s most significant upgrade as it has brought about a whole new set of functionalities and system architecture.
Initially, the desktop users of only Firefox, Edge, Chrome, and Opera will be able to receive the support of ADA staking, including the Android users of Firefox and Chrome. iOS mobile platform, Safari, and Internet Explorer users are exempted from its access. However, they can download the available browser on the desktop for access.