frequently asked questions
What is Cardano (ADA)?
Cardano is a 3rd generation crypto currency. More inforamation can be found here: www.cardano.org
Why is ADA better than Bitcoin (BTC) or Ethereum (ETH)?
ADA does not require mining hardware to validate transactions. Instead staking pools take this responsibility. Owners of ADA (stake holders) delegate their stake to staking pools and receive rewards for their ownership. But ADA uses blockchain technology and a distributed ledger like other crypto currencies.
How stake holders profit from delegating their stake?
Owners of ADA not only gain from increasing value of ADA compared to fiat currencies, but also from delegating their stake to staking pools. Rewards decrease over time. As of beginning of 2021 its just under 3%. A fancy calculator is also available!
Is my capital in ADA at risk because of delegation?
No, because delegation is completely independent from your wallet. Staking pools are selected by yourself, and they don't get any information about the stake holders themselves.
How do I get my rewards from staking?
Rewards are paid automatically into your wallet.
Now that decentralized finance (DeFi) is getting popular, how will Cardano evolve in that field?
The community of Cardano is commited to participate in the DeFi market place and the mary hard fork happening on 01-03-2021 is a major step into that direction.
Is Cardano a scam like so many others in the area of crypto currencies?
No, all Cardano applications and software is open source and available for everybody to check. End of February 2021, Cardano is the 3rd most capitalized crypto currency of the world. It is just behind of BTC and ETH.
If you have still questions don't hesitate to ask us: askJoe@adapool.at.