That bridge is the Kelowna Floating Bridge, also known as the "William R. Bennett Bridge"
View on Wikipedia
Cardano is the worlds first peer-reviewed blockchain. It is a third-generation cryptocurrency and smart contract platform which uses the proof-of-stake (PoS) algorithm known as Orobouros. Cardano claims to improve upon the scaling problems of Bitcoin, a first-generation cryptocurrency, and Ethereum, a second-generation cryptocurrency.
Cardano is founded on peer-reviewed research and developed through evidence-based methods.
Proof of work (PoW) is a consensus mechanism. PoW requires processing power to verify transactions on the network. Each miner must compete to solve a difficult puzzle using their computer’s processing power, the first miner to solve the puzzle is given a reward for their work.
Proof of stake (PoS) is consensus algorithm by which a blockchain network aims to achieve a distributed consensus. The Cardano network uses Ouroboros, a verifiably secure proof-of-stake protocol. The process of staking is similar to PoW mining. However, instead of relying on processing power to create blocks, the block creator is chosen by an algorithm based on the user’s stake.
Staking is the process of actively participating in transaction validation on a proof-of-stake (PoS) blockchain. In simple terms, staking is the process of purchasing and holding a cryptocurrency in a wallet to support the operations of the network.
A stake pool is a reliable server node that focuses on maintenance and holds the combined stake of various stakeholders in a single entity. Stake pools are responsible for processing transactions and producing new blocks with the help of delegators.
A delegator is an ADA holder that delegates their stake to a stake pool.
The pledge is the amount of ADA the stake pool itself is delegating to the pool.
Although pledging is not required when setting up a stake pool, it can make the stake pool more attractive to delegators, as the higher the amount of ada that is pledged, the higher the rewards that will be paid out.
Every stake pool has a fixed fee per epoch, the minimum fee per epoch is ₳340.
After each epoch the ₳340 fee is subtracted from the rewards before being distributed amongst the delegators.
By design, there is no risk to your ADA by delegating to a stake pool. Delegation allows the stake pool to use your stake on your behalf to create blocks. Your ADA is not sent to the stake pool. Stake pools combine all the delegators’ stake, the more stake the pool has, the more likely the pool is to create a block.
Stake pools can not send funds from your wallet and have no control over your wallet.
Delegated funds are not locked and can be spent at any time.
Private keys are what allows you to send funds from your wallet. Never provide your private keys to anyone!
Decentralization is a term used to describe a system that is not owned or controlled by a single entity, such as a government, bank, or company. The entire transaction history, from the genesis block to the current block, is replicated across thousands of nodes making it impossible to manipulate verified transactions. With thousands of stake pool nodes around the world, it is next to impossible to take down the Cardano network.
Banks have centralized systems which give them total control on who you can send money to, how much you can send at a time, and they can even freeze your account! With a decentralized system the only way to send funds from a wallet is with a private key, meaning that you and only you have control over your funds.
The yearly return on staking is estimated to be about 4-5%.
© Copyright Kelowna Staking | Stake pool information provided by ADApools.org