Couple of beginner questions


#1

Howdy guys,

I’m a recent newcomer to cardano. Sounds super awesome!

I read somewhere that you can leave you coins in your wallet and your wallet turned on, and then you will earn Cardano on staking? Is that true? And is this sort of like mining as we know it from Bitcoin?

Else - can I mine Cardano somehow?

Thanks!


#2

Yes that is true, you can stake your ADA and earn ADA while staking. But not right now. Staking will be avalible in Q2 2018.


#3

Correct, they are still working on the staking feature. But there is no mining Cardano - since it’s Proof of Stake and not Proof of Work. (this is also one of the huge benefits of ADA, being secure, fast, cheap, decentralized and massively scalable. I’ve heard on numerous attempts say that the more transactions/nodes/users there are the more bandwith ( or transactions per second) Cardano will be able to process. From a technical standpoint i’m in love with ADA :blush:


#5

Belgium! you?


#7

will staking be possible on the online wallet or on the offline wallet?