Google Cloud To Start Staking Cardano Via Midnight Partnership

Cardano has taken another big step towards its goal of mainstream adoption. The latest development is that Google Cloud will stake ADA on the network by running a validator for Midnight, a partner chain built on Cardano that focuses on privacy and secure data handling.

Running a validator means that Google Cloud is helping to confirm transactions and keep the network secure. To do this, Google Cloud must stake ADA, the native token of Cardano. By staking Cardano, Google Cloud will contribute to the safety and stability of the network.

The staked ADA acts as a form of “skin in the game,” it ensures that validators are financially incentivized to act honestly. If a validator behaves maliciously, it risks losing rewards (though Cardano currently doesn’t slash stake like some other chains, Ethereum for example).

Building Confidence Through Major Validators

The involvement of Google Cloud is significant for Cardano. It shows that a major technology company sees value in the blockchain. Validators are crucial for keeping networks decentralized and secure. Having a well-resourced company like Google Cloud as a validator adds credibility and confidence for everyone participating in Cardano.

It’s not the first time Google Cloud has got involved with crypto, in fact it has its own dedicated digital asset team and has partnerships with many coins and also runs a validator for Tezos.

Impact on Regular Stakers

For individual ADA holders, nothing changes right now. You can continue staking Cardano the same way you always have. The difference is that a company like Google Cloud is now part of the network, which helps ensure security and reliability.

Thinking About Staking Rewards

While Google Cloud’s entry into staking on Cardano through Midnight is an exciting milestone, it is worth remembering that not all staking APYs are the same. Different projects offer varying reward structures, risk levels, and participation models. Some coins provide higher potential APYs for stakers, which can be attractive for investors looking to maximize passive income.

You can use Cardano’s staking reward calculator to see the current annualized staking reward. At the time of writing, the rewards are at 2.34%. This rate varies usually between 3 to 5% per year.

As the staking landscape evolves, it is important for participants to stay informed, compare opportunities, and carefully evaluate which networks align best with their goals.

Cardano Staking Alternatives

Google Cloud’s move highlights how important staking has become in crypto. Exploring alternatives however can help diversify portfolio strategies while still benefiting from the growth of blockchain ecosystems. 

One of such strategies is to look for new, low-cap projects with higher yet sustainable staking APYs. Among them is BEST, a multi-utility token powering a non-custodial, multichain product: Best Wallet.

Unlike Cardano, which offers between 3% to 5% rewards per year, BEST delivers significantly better staking yields, with early investors still accumulating 81% APY at the time of writing. 

To top it off, staking $BEST opens the door to a range of other attractive DeFi staking facilities through the Best Wallet app. Multiple crypto assets across various blockchains are available for staking, providing investors with diverse methods of yield generation. 

Being self-custodial, the wallet gives users complete control and better security over their assets and yields. Its no-KYC architecture also removes the need for identity verification or lengthy forms, allowing instant access to staking facilities and other vital features within the wallet. 

However, the absence of KYC doesn’t mean security is left to chance, as Best Wallet has integrated state-of-the-art solutions like Fireblocks to keep all assets safe, giving users peace of mind while exploring Cardano staking alternatives. 

Another major reason why people are increasingly drawn to BEST and the staking opportunities provided on Best Wallet is its transparent model. It features real-time performance metrics such as reward rates, validator status, withdrawal timelines, empowering users to monitor all their staking activities in a single interface. 

That said, the appeal of holding $BEST goes beyond staking – it also gives valuable perks within the Best Wallet ecosystem, especially lower transaction fees, voting rights in governance, and early access to promising projects. 

Combine that with its low cost and high growth potential, and it is easy to see why many analysts consider it as an excellent option for those looking to maximize their investments in the next bull run. 

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