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TagsCan staking ADA on Cardano help me earn passive income?
adam kazmierczykJan 14, 2022 · 3 years ago1 answersI've heard about staking ADA on Cardano, but I'm not sure how it works and if it can really help me earn passive income. Can you explain how staking ADA on Cardano works and if it's a good way to earn passive income?
1 answers
- Staking ADA on Cardano can indeed help you earn passive income. Cardano's proof-of-stake consensus mechanism allows ADA holders to participate in the network's security and earn rewards in the process. By staking your ADA, you contribute to the decentralization of the network and receive a share of the block rewards. The amount of rewards you earn depends on the amount of ADA you stake and the performance of the stake pool you choose. Staking ADA on Cardano can be a reliable way to earn passive income, especially if you believe in the long-term potential of the project.Jan 14, 2022 · 3 years ago
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