If you wish to make an apple pie from scratch, you must first invent the universe.
Geekrypto is run by myself, Lotfi, a high tech and crypto enthousiast with over 10 years of IT experience. I am today responsible of managing several projects for private cloud solutions and working with many experts in all fields. I think that the first time I heard about the blockchain, and of course bitcoin, was in 2012. for a long time, I was saying to myself : ” i’ll need to take sometime for diging a bit more into this topic!” … but I’ve never really took that time before end of 2017, where I started reading, understanding, testing some mining and investing in cryptocurrencies. Third generation coins like ADA have the advantage in that the every day person can make a passive income of it, without the need for any high tech equipment. You simply delegate your coins to a staking pool (they never leave your wallet) and this pool will validate the blocks for you (in a sense its like minding bitcoin but way easier) Now I am gathering all my know-how and passion for moving on more step forward launching my own project: Geekrypto.
What is Geekrypto project to me ?
01. Cardano Stake Pool
The first time I’ve heared about Cardano project was in early 2018, where I simply started investing into cardano coin, but now, after spending hours, days, and weeks working on this project, I’ve finally created my first Cardano pool which, I believe, will be supporting this beautiful project and helping with its netwok decentralization.
02. Educational project
In addition of communicating about the cardano stakepool, I wish to use this website for sharing interesting news and knowledge, not only about Cardano, but about crypto technologies in general
This will be a first step for supporting crypto projects, but I wish to extend it to other interesting ones and contribute to their development.
I truely believe the potential crypto technologies have is going to be life changing across the world, but in particular Africa. Please support us and we will donate 10% of profits each quarter to this fantastic charity “Life ONG” for helping them in their actions across the world
DAEDALUS WALLET is a full node (desktop) wallet. This means that unlike light wallets (e.g.Yoroi, Adalite etc.) Daedalus downloads a full copy of the Cardano blockchain and independently validates every transaction in its history. That way you get maximum security and completely trustless operation, without centrally hosted 3rd party servers.
YOROI WALLET is a light (mobile/desktop) wallet for Cardano. It’s simple, fast and secure. Yoroi is an Emurgo product, engineered by IOHK. And it follows best practices for software in the industry including a comprehensive security audit. Yoroi looks to be a day to day wallet for a Cardano user.
Need more info? Check out our most frequently asked questions.
As part of the Proof of Stake protocol, new blocks are minted on the blockchain by a staking pool. The pool is chosen pseudo-randomly, based partly on pool size. When you stake your coins, you contribute to the pool size and the likelihood of the pool being chosen to mint new blocks and receive rewards.
Delegation means that ADA holders delegate their stake in the form of ₳ to a stake pool.
It allows holders that do not run their own pool to participate in the network and receive rewards in proportion to the amount staked.
If you delegated for the first time, it will take 15 – 20 days to get your first rewards.
When a user delegates in epoch X, the delegation will be recorded at the beginning of the next epoch X+1 and get active in epoch X+2.
In epoch X+3 the rewards of the previous epoch X+2 are calculated. Those rewards are distributed at the beginning of epoch X+4.
n the Cardano network an epoch is a measurement unit for time. Each epoch consists of a number of slots, where each slot lasts for one second. A Cardano epoch currently includes 432000 slots, which equals exact 5 days.
If you delegate for the first time, you will have to pay 2 ₳ for key deposit. This is required to register your stake address. If you choose to unstake later you will get the key deposit back.
The second fee of ~0.2 ₳ is for transaction costs. You will have to pay this amount for the first time and every time you decide to move to a different pool.
Basically there is no minimum amount of ₳ required to start delegating but you need to have at least the amount to pay for key deposit and transaction costs (check “Do I have to pay for staking?”).
Some wallets require you to have at least 5 or 10 ₳.
Yes, your funds are safe as your ₳ stays in your wallet. You keep full control while they are staked and you can send / withdraw them at anytime (no locking).
This calculation uses fictional amounts of ₳.
Lets assume a pool gets 1k ₳ for every block minted and mints 10 blocks in a given epoch.
Active Stake: 10M ₳
Pledge: 100k ₳
Fixed costs: 340 ₳
This would result in a total of 10k ₳ in rewards.
- First, the declared fixed costs (340 ₳) are subtracted and given to the pool operator
- Next, the declared margin (2% of 9,660 ₳ = 193.2 ₳) is subtracted and given to the pool operator.
- Finally the remainder (9,466.8 ₳) is split fairly (proportional to delegated stake), amongst all people who delegated to the pool, including the pool owner (Pledge equals 1% of active stake = 94.668 ₳)
In this example the pool operator would get 627.868 ₳ and 9,372.132 ₳ would be split amongst the delegators.