4 Min Read 
Introduction
We’re excited to introduce Cardano staking in Edge! This new feature allows you to earn rewards by being an active participant in the blockchain network. In this Edge-ucation article, we’ll explain what staking is, why you should consider it, and how to get started with staking your ADA in Edge.
What is Staking?
Staking is a process that involves locking up a certain amount of cryptocurrency to support the operations of a blockchain network. In return, participants earn rewards or “yield” on their holdings.
Cardano Staking
For Cardano, staking is essential for maintaining the network’s decentralized and secure nature. As a Proof of Stake (PoS) blockchain from its inception, Cardano relies on stakeholders to validate transactions and produce new blocks. By staking your ADA, you become an integral part of this process, contributing to the network’s ongoing operation and security while earning rewards.
Unlike Ethereum, which has now transitioned from Proof of Work (PoW) to Proof of Stake (PoS), Cardano was built with PoS in mind from the beginning. This means that staking ADA has always been a core function of the network, ensuring that it remains decentralized, secure, and energy-efficient.
Delegation vs. Running a Node: With Cardano, you have the option to either run your own staking node or delegate your ADA to a staking pool. Delegating is a more straightforward option for most users, allowing you to earn rewards without the need to manage the technical aspects of running a node. Edge makes it easy to delegate your ADA to a staking pool directly from your wallet.
Flexible and Accessible: One of the key benefits of staking ADA is that it remains liquid. You can still spend and transfer your ADA while it’s staked, giving you the flexibility to manage your funds while earning rewards.
Whether you’re new to staking or looking to optimize your rewards, staking your ADA through Edge offers a seamless and secure way to participate in the Cardano network.
Why Stake Your ADA?
💰Earn Rewards: Staking your ADA allows you to earn additional cryptocurrency rewards. The more you stake, the higher your potential rewards.
♻️Support Blockchain Sustainability: By participating in staking, you contribute to the security and efficiency of Cardano, promoting a sustainable future for these networks.
💸Passive Income: Instead of letting your ADA sit idle, staking allows you to generate passive income on your holdings.
🔒Network Security: Your staked assets help secure the Cardano network, ensuring that transactions are validated and the networks remain robust.
How to Stake in Edge
Staking in Edge is simple and straightforward. Follow these steps to get started:
- Update the App: Make sure you have the latest version of Edge installed on your device.
- Navigate to the Asset Scene: Open your Edge app and go to the Asset scene. You’ll find various cryptocurrency assets here.
- Select Cardano: Choose a wallet with funds on it from the list of available assets.
- Select “Earn”: Once in the wallet scene, tap “Earn” from the list of available actions.
- Confirm Your Stake: Review the staking terms and confirm your transaction. Your holdings will be in the staking contract, and you’ll start earning rewards.
- Monitor Your Rewards: You can track your staking rewards directly in the Edge app. Keep an eye on your earnings and manage your staked assets as needed.
How Rewards are Calculated
Here’s a breakdown of how these rewards are calculated and distributed:
Staking Rewards: Rewards are determined by several factors, including the total amount staked on the network, the number of validators or staking pools, and the overall network performance. Generally, the more ADA staked and the more active the network, the higher the reward rate. For Cardano, the reward rate adjusts dynamically to maintain network balance and incentivize participation.
Validator or Pool Performance: Your staking rewards depend on the performance of your staking pool. Pools are responsible for proposing and validating new blocks. If they perform their duties correctly and in a timely manner, they earn rewards, which are then distributed to their stakers. In Cardano, selecting a reliable staking pool is key to optimizing your rewards.
Reward Distribution: Rewards are distributed periodically. Cardano distributes rewards every epoch (approximately every 5 days). Your rewards are added to your staked balance, allowing you to earn additional rewards on your accumulated staking rewards, creating a compounding effect.
Network Factors: The overall health and stability of the Cardano network influence staking rewards. Factors such as network upgrades, changes in staking participation, and overall network activity can affect reward rates for ADA. Staying informed about these factors can help you maximize your staking rewards.
By understanding these mechanics, you can better appreciate how your rewards are calculated and take steps to optimize your earning experience.
Join the Staker Community
For any assistance, our real-human customer support team, composed of crypto experts, is available 7 days a week to help with any questions or issues you may encounter. If you’d like to learn more about Edge’s high security standards, please read our detailed article here. Start earning yield on your assets by downloading Edge and staking your ADA today! Update your app today and take the next step in your crypto journey with confidence.
