EMURGO, a founding member of the Cardano protocol, is partnering with Moonstake to build synergies that will help drive blockchain staking activities, broaden awareness of Cardano, and accelerate industry adoption of staking within the Cardano ecosystem as per a press release on Aug 11.
Moonstake and Emurgo Partnership
Moonstake is a blockchain and a staking technology company with eyes on the Asian market. It was established specifically to build a staking pool protocol to meet the increasing demand for the service and to be one of the largest staking networks in the region.
With the two joining hands, EMURGO and Moonstake will conduct a technical evaluation in line with the upcoming full-scale implementation of ADA staking pools for compatibility checks.
Their signature product, Moonstake Web wallet, supports the basic function of crypto wallets driving usage and utility. Besides, it is equipped to support the staking of different digital assets including Ontology (ONT), Harmony, and soon ADA.
Commenting on this development, Mitsuru Tezuka, applauded Cardano saying the protocol is bringing a new standard to technology. Their partnership, he adds, will bring a new era of staking in Asia.
“Cardano brings a new standard in technology – open and inclusive – to challenge the old and activate a new age of sustainable, globally-distributed innovation. We believe the partnership with EMURGO will create a new era of staking across Asia.”
Cardano Decentralization through Shelley Mainnet
Smart contracting extends the functionalities of single-purpose blockchains like Bitcoin. Through Cardano, physical assets can be tokenized and secured in a transparent network. Cardano is emerging as a worthy competitor for Ethereum.
Just recently, the Shelley mainnet was launched enabling staking pool operators to receive ADA coins delegated from coin holders. The Shelley mainnet marked Cardano’s decentralization. At the moment, there are over 600 staking pools. In a Proof-of-Stake platform like Cardano, this high level of participation translates to better security thanks to satisfactory decentralization.
Currently, Moonstake operates three validators in Cardano ADA pools but plans to add more with time in line with their general objective of being the largest staking network in Asia. Already several of their partners and users have expressed their desire to stake through their wallet once ADA delegating functionality is fully-enabled.
Early July, BTCManager reported of Cardano’s partnership deal with Coinbase Custody for secure staking.