Welcome to the Black Box fortnightly update. It is our goal to keep the delegation process as transparent as possible, and keep all delegators up to date with the latest news and events.
Firstly, thank you for your continued support! Black Box is now up to a total of 69 delegators. We’d like to extend a warm welcome to all of our new delegators!
Recently the volatility in the cryptocurrency market has ramped up once again as China moves to ban Bitcoin mining in China's Southwest Sichuan Province - one of China's largest cryptocurrency mining bases. Mining facilities were closed as of Sunday, after local authorities ordered a halt to mining in the region on Friday amid an intensified nationwide crackdown against cryptocurrency mining. The ban also means that more than 90 percent of China's Bitcoin mining capacity is estimated to be shut down, at least for the short term, as regulators in other key mining hubs in China's north and southwest regions have taken similar harsh steps.
China’s continued crack down on cryptocurrencies is ultimately good news. It is a right of passage for freedom technologies to get banned in China, namely, Google, Facebook, YouTube, Zoom, Reddit, Wikipedia, Netflix, Instagram, WhatsApp etc. This means that cryptocurrencies are succeeding, not failing. Nations are now choosing a side, and China is responding the same way they did with analogous world changing technological innovations. While this may cause short-term bearish volatility, the long-term forecast has never looked brighter.
Cardano’s Alzono smart contract test-net has recently launched, and testing has been going to plan and running on schedule. The first smart contracts have successfully run on the test-net without any major issues. Soon the development team will be transitioning to the “white” phase of the rollout, which will allow additional developers and Stake Pool Operators to enter the test-net ecosystem and test the network for any hidden bugs.
As previously mentioned, smart contracts are a big piece of the puzzle for Cardano’s development roadmap. Smart contracts will allow Cardano to compete directly with the second largest cryptocurrency, Ethereum.
Black Box has been consistently producing blocks on the Cardano blockchain network, therefore we have been paying rewards to delegators every 5 days. In two days time on the 25th of June, Black Box will be paying our highest ever return to delegators for epoch 272, a total of 15,000 ADA after producing 21 blocks over the 5 day period.
Black Box is proud to announce the following results for Epoch 272:
18.92M ADA Stake
$80 Donated to the Make-A-Wish Foundation
We have recently increased our pledge to 95,000 ADA and reduced our margin fee to 0%. This now makes Black Box one of the most competitive pools on the network. Additionally, after supporting the Royal Flying Doctor Service in Australia for the past six months and raising in excess of $350, Black Box will now also be supporting the Make-A-Wish Foundation. Black Box has committed to donating 10% of all pool fees to the Make-A-Wish Foundation on a regular basis. Black Box is proud to be supporting such a great cause, commensurate with our mission goals as a Cardano Stake Pool.
A quick reminder that our delegator referral scheme is still running, so if you know of anyone interested in staking Cardano with Black Box send them our way! We would also appreciate it if you liked and followed our social media profiles to help increase our organic reach - links are below.
We hope this update has given you an insight into the work going on behind the scenes, as well as the performance of the pool so far.
If you have any further questions, please don't hesitate to get in contact.
Kind regards, Shane Severn