A Cardano Node Stake Pool | SILVR
Arising from Meriden, a small post-industrial town in the Central Connecticut Valley nicknamed the "Silver City" due to it's Silverware industry in days long gone - Silver City Staking wishes to demonstrate to the world how to participate in the financial renaissance of the new blockchain-based economy.
In 2020, Silver City Staking was established with the vision that Digital Assets will be part of everyday life. We have carefully built our Cardano (ADA) Blockchain Node Stake Pool to give our delegators what they want — the chance to enhance their digital asset gains.
Our Blockchain Node is protected behind multiple relays which increase network connectivity while enabling redundancy for transaction validation propagation.
Silver City Staking offers a dedicated server, solid performance, and low margin fees to maximize your rewards. So what are you waiting for? Delegate and earn your rewards with Silver City today!
WHAT IS SILVER CITY STAKING?
Silver City is a Blockchain Node Stake Pool designed for users of the Cardano (ADA) digital currency. We are part of a decentralized network of globally distributed nodes powering the Cardano Blockchain - a top ten cryptocurrency and rapidly emerging global financial operating system.
HOW DO I DELEGATE? WHAT IS STAKING? HOW DOES IT WORK?
Delegating (otherwise known as Staking) is the process of assigning digital asset funds in a cryptocurrency wallet to a Stake Pool node to support the operations of the blockchain network. Users simply delegate (stake) their digital currency to a Stake Pool from within their digital wallet and in return earn a "Reward". This Reward is calculated based on the user’s share of the total balance held on the Stake Pool during a given time period.
It's sort of similar to what legacy banks call "interest". However, with banks - they hold your money. In contrast, with Staking - YOU keep custody of your digital funds in your own digital wallet.
If you own the Cardano (ADA) cryptocurrency, you can delegate (stake) to Silver City straight from your Daedalus or Yoroi digital wallet - Just look for our ticker "SILVR " and click!
This process not only earns you Rewards, but it also helps power the entire Cardano blockchain global network. This is because 'Staking' is the process by which the Cardano blockchain network nodes support and validate consolidated groups of network transactions (known as "Blocks") that make up the decentralized digital ledger of the Cardano Blockchain Network. Hence the term Blockchain..."a chain of blocks".
OK. WHATS THE CATCH? IS MY CARDANO (ADA) DIGITAL CURRENCY LOCKED-UP IN A CONTRACT? WHO MANAGES CUSTODY OF MY DIGITAL CURRENCY?
The Cardano Blockchain Staking process does NOT require your ADA digital funds to be locked-up for a term—you can spend your ADA digital funds or switch to another stake pool instantly at any time with no strings attached. Zero, zilch, nada...Easy as a mouse click.
Remember, your Cardano (ADA) digital funds NEVER LEAVE YOUR CUSTODY. That means your funds will always remain in your own wallet. Awesome.
WHAT ARE THE TYPICAL RETURNS FOR DELEGATING (STAKING) MY ADA TO A STAKE POOL?
Every stake pool is different and the rewards are constantly evolving with the technology. Currently, most efficient Stake Pools are typically generating between 4-6% earned annual rewards. You can click our "Performance Specs" link above and access more detailed information about our technical performance.
WHY THE CARDANO BLOCKCHAIN INSTEAD OF ANOTHER BLOCKCHAIN NETWORK?
Cardano is a top ten digital currency built upon a PUBLIC blockchain and is fully OPEN-SOURCE. No one "owns" Cardano, and it is a global blockchain network that seeks to deliver more advanced features than any other blockchain network previously developed.
Using a research-based, peer-reviewed, and academic approach - the development teams consist of a global collective of some of the brightest computer scientists, researchers, and engineers on planet Earth.
The result is the first digital currency to be based in Haskell code, an 'industrial strength' code that delivers the security and resilience necessary for mission-critical systems and engineered for efficiency and scalability. It will be the most complete and useful blockchain network and global financial operating system ever constructed up to date. Period.
This Proof of Stake Blockchain pool operator is not a money transmitter, under Wyoming State and United States Federal law, and does not engage in the sale, transmission, transfer, or storage of any type of money, currency, or convertible virtual currency. This pool operator does not engage in purchasing and exchanging any form of currency, or convertible virtual currency, between persons or accounts, and does not operate a Money Services Business. This pool operator only facilitates the mining of blocks for mining pools and contract purchasers, and is not a money transmitter nor subject to the Bank Secrecy Act regulations, as these transfers are integral to the provision of services. This pool operator does not control user access, domestic or foreign, to the blockchain, or access to the mining pools. Once materials have been obtained after mining the blocks through the Proof of Stake platform, this pool operator is not liable for what the pool miners or contractors do with said materials outside of the platform. Wyo. Stat. Ann. § 40-22-104(a)(vi) (Current through 2020 Budget Session and First Special Session of the Wyoming Legislature) and 31 C.F.R. § 1010.100(ff)(5)(B)(ii)(F) (current through the June 11, 2020 issue of the Federal Register).
If you are from a country listed on the U.S. Treasury Department's Office of Foreign Asset Control (OFAC) or as a Specially Designated Nationals (SDN), you are not allowed in this pool due to unclear U.S. regulations. https://www.treasury.gov/resource-center/sanctions/Programs/Pages/Programs.aspx and https://www.treasury.gov/resource-center/sanctions/SDN-List/Pages/default.aspx
Updated: August 1, 2020