What is Coinbase’s staking feature?

Coinbase will participate in these networks and pass on the rewards to eligible customers who have opted into this feature. What is staking? Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain.

Can You stake Cardano’s Ada token?

In late March 2022, Coinbase, the prominent crypto exchange, expanded its staking initiatives by allowing users to stake Cardano’s ADA token. Upon launch, the crypto exchange predicted that staked Cardano ( ADA) would yield around 3.75% yearly percentage yield.

Is Cardano supported by Coinbase?

Cardano is not supported by Coinbase. Cardano is both a cryptocurrency and a decentralized computing platform. Cardano features a unique consensus algorithm (called Ouroboros) that validates transactions without high energy costs. Layer-1 blockchain network Polkadot is the most popular when it comes to staking.

What is ADA token (Ada)?

The blockchain's native token, ADA, is named after the 19th century mathematician, Ada Lovelace. What is Proof-of-Stake? Proof-of-stake is a type of consensus algorithm where a cryptocurrency blockchain network aims to achieve distributed consensus.