📣Get to know the Staking process
📣Get to know the Staking process
What is Staking?
Staking is the verification of transactions on the PoS-based blockchain. It is a collateral-based verification and the participants are also the network auditors.
So how does staking work? So what are the advantages and disadvantages?
Staking is depositing digital money where it supports stakes, similar to bank deposits. The rewards for each platform are different. The advantage of staking is that there is no need to invest in mining rigs. Tokens can be bought and stored in your wallet without the need for a mining rig. And it is also more energy-efficient than PoK. The disadvantage is that there may be days or weeks of unlocking time to withdraw, and the use of PoS is still very new compared to the old PoK.
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