Kraken started staking service

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I use Kraken for trading and have a few ADA there.
I see today that a new feature appeared : Kraken now propose stacking service for 3 coins (1 live, 2 coming soon).

Will we see soon ADA stackable there or the philosophy is having the more independant people running staking pools ?

I wonder where is the limit to decentralisation and democratisation of staking and staking on big exchanges ?

Is there a position paper about Cardano vision ?

Will I have to consider stacking with my exchange or will I have to consider to run my own staking pool ?
I think I will do both. I bought a small PowerEdge240 server. I install Ubuntu on it ASAP and will set up a node at home to learn about it.

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Hi Christ46!

Thank for the info!

I imagine that soon, most large exchanges will be offering staking for major assets like ADA, however as we know, not your keys not your coins, my personal recommendation is to either delegate to one of the pools created by the community to promote decentralization and have full control & security of your coins, or create a staking pool :).

Personally I am now delegating, while working on figuring out how to create a node and would love to run one in the near future.

But in the end, staking with an exchange is similar to holding your funds in a bank, I find it risky.

Best of luck & Happy Staking!

Cheers!
Tsvetan

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Hi !
Effectively not your keys not your coins. I think to get a Ledger hw wallet and to give my recovery phrase to my notary.
Does some of you have already thought to who give your recovery phrase in case of death ? Is the notary a natural thinking or is there other solutions practiced ?

For big exchanges my question was mainly regarding the philosophy of Cardano that is to promote decentralisation. Is it compatible with the fact that big exchanges will come on stacking ASAP (already done for some) ?
As a linux admin that already set up hosting services and as I will soon have fiber at home I will setup a stacking node at home following the recommendation of ADANorth pool that made brilliant tutorials on his own experience. But I wonder if it is of interest or not to run its own node or if it is better to select an existing one with the same philosophy :slight_smile: run @ home by individuals :wink:

Many people started real business on operating nodes with full teams to promote their activities.
I wonder if there is a place for personal nodes in the ecosystem. Big exchanges. Small businesses starting to grow. And already brilliant individuals that run nodes at home.
What is the objective of density of nodes in a few years ? Hundreds ? Thousands ? Millions ?
For 7.6 billions of potential users of ADA how many stacking nodes will be needed ?

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Hi Christ46!

Great lot of nice questions :smiley:

Well, as they created the saturation levels and made them low I`m sure there is room for personal nodes, as long as the performance is maintained I am certain things will be fine and there will be enough room for everyone.

As evident there is a ton of interest for staking ADA, this is not hype, this is the result of brilliant engineering, hard work, and a vision where we the community can relate to, Cardano is something I really resonate with, and with the application of game theory we have an incentive to act upon our personal interest while that`s aligned with the best interest of the Cardano ecosystem.

This creates a win-win situation and while large exchanges will certainly have massive pools, as there is a level of saturation, people will be earning far less in this way and personally in my opinion, it would be foolish to stake with such large players, because

  1. Decentralization is not promoted in this way.
  2. Not our keys, not our coins. (One of the unique selling points of the blockchain revolution)
  3. We would earn less.

Key factors, which will influence peoples way of thinking and acting when it comes to staking Cardano, I think its brilliant!

Also, if you would prefer to delegate or run a staking pool, it all depends on you, me and everyone, if you have the capabilities and wish to run one, I don`t see why not.

I`m not an expert, but the information about how many pools, 1000 has been the answer, even though I am certain there will be so much more interest than that amount.

Good luck & happy staking!

Cheers!
Tsvetan