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Introduction to Staking

by Monica Monica

WHAT IS STAKING?

In the world of blockchain and cryptocurrencies, staking is the process of holding funds in a crypto wallet as a way of validating decentralized transactions in networks that implement the Proof-of-Stake consensus mechanism.

Staking is considered an eco-friendly and affordable alternative to the Proof-of-Work mechanism, which requires expensive mining systems and and a great deal of energy to validate cryptocurrency transactions like what is done with Bitcoin. Stakers need only to be connected to the internet at all times to stake effectively.

Here you’ll find an in-depth explanation about staking and how it came to be: 

Here you’ll find the benefits and risks of staking:

Here you’ll find how staking coins works:

Here you’ll learn how to prepare for staking:


THE FUTURE OF AND REASON FOR STAKING

Staking will possibly remain as a beneficial validating mechanism as trading trends undergo several issues due to volatility of the cryptocurrency market.

Because it is also perceived as a convenient way of generating income and contributing in the governance processes of decentralized networks, staking will potentially allow more people to explore the world of cryptocurrencies and other blockchain-based solutions.

Here is a guest post of Ankush Gupta, a growth entrepreneur and blockchain enthusiast, about how staking will be an effective way of earning money through blockchain:

Here you’ll find how staking can be beneficial to investors looking into making money with less risks both in the short and long run:

Here you’ll see how staking can be used not only for earning money but improving a blockchain project in a responsible way:

Here you’ll find how staking is helpful not only for cryptocurrencies but also for blockchain-based business operations:


EXAMPLES OF POS COINS

There are several cryptocurrencies in the market now that users can stake on. As of 2019, some of these coins are:

Tezos (XTZ)
https://tezos.com/ 

Cosmos (ATOM)
https://cosmos.network/

NEO (GAS)
https://neo.org/

Centrality (CENNZ)
https://centrality.ai/

Cardano (ADA)
https://www.cardano.org/

Here you’ll find out more about different crypto coins that can be staked on (as of 2019):


Here you’ll see a list of digital asset exchanges that support crypto staking: