- Cardano is one of the top cryptocurrencies in the market. It is based on blockchain technology, which aims at enabling secure and efficient transactions. The coin is popular because it is fast, secure, and easy to use. It is especially fast as it is based on the Ouroboros Proof-of-Stake consensus algorithm.
- Cardano has recently been the center of attention in the blockchain space due to the buzz generated by multiple developments happening on the network. The most recent one is that a key Cardano development team member, James Duffy, the VP of product, has announced a special reward for those who stake ADA. The reward is available for all stakers on the network since the start of the staking process on the Cardano blockchain.
- In the past, Cardano was often referred to as “the Bitcoin of blockchain” due to its similarities to Bitcoin, but was also touted as a possible competitor to Ethereum, the world’s largest and most popular blockchain.
Cardano Leaps after Coinbase Debuts ADA Staking
- Cardano has been a market leader in the Japanese cryptocurrency market; however, its value has dramatically declined in recent months. It appears that Cardano is taking a hit from the recent Coinbase announcement that they will begin staking ADA in the near future.
- This week, Coinbase, the US-based cryptocurrency exchange, started to support staking on Cardano (ADA) by allowing users to deposit and withdraw ADA. This is the first time that a major mainstream cryptocurrency exchange supports staking on the Cardano blockchain.
- Cardano has been rebounding after news that Coinbase will start allowing users to stake ADA hit the airwaves. Coinbase’s decision to support staking of the ADA coin was announced earlier this year. At the time, Coinbase said that it was one of the first major companies to do so.
Conclusion
Cardano (ADA) has seen a lot of activity since Coinbase announced its new staking rewards program. The excitement has been building since then, as many are wondering when we will see more projects implement staking rewards. In the meantime, Cardano is being included in Coinbase’s staking rewards program, and they have also implemented the rewards into their platform.
