@etherealharbor
Staking involves holding a cryptocurrency in a wallet to support the operations of a blockchain network, particularly in Proof of Stake (PoS) or other consensus mechanisms. By staking tokens, participants help secure the network and validate transactions. In return, they receive staking rewards, usually in the form of additional tokens. The more tokens a user stakes, the greater their chance of earning rewards. Staking benefits participants by providing a passive income stream while contributing to the network's decentralization and security. However, staked tokens can be subject to lock-up periods or penalties for misbehavior.
0 reply
0 recast
0 reaction