Staking: Full instruction + cryptocurrency introduction!
Staking in the world of cryptocurrencies, means allocating cryptocurrencies to the network for rewards.
It is an activity in which the user locks or holds his / her assets in a special wallet to participate in maintaining the security of proof-of-stake (PoS) blockchain systems.
Security in the proof-of-work is that for attacking the network of saboteurs, they have to provide more power over the process of processing more than 50% of the miners but in the proof of stake if the saboteurs want to attack the network, they have to buy a large part of the tokens from the market.
In the process of the staking, the right to validate transactions depends on the “locked” coins in the wallet.
One of the new staking options, is ETH 2.0, the secondary version of the second popular cryptocurrency platform. With staking on ETH, you can become one of the first validator of this network and help flourishing this system.
To participate in staking of ETH 2.0, you must have at least 32 ether as well as a major network of client (ETH1). Then, you can start your work with this platform.
The native currency of the platform named XTZ, and the stake process of this platform is known as “Baking. ”
To be a Baker (Stakeholder), you must have 8,000 coin XTZ and run a full Node of XTZ.
The ALGO platform has been launched with the goal of making low cost international payments.Unlike the XTZ platform, the ALGO uses pure proof-of-stake or the PPOS.However, on this platform, stakeholders should run the full Nodes.
In addition, there are also intermediaries and staking pools of the ALGO, which support the shared native coins of ALGO.
The complicated Korean blockchain project (ICX) has also created a platform based on staking. The platform uses the algorithm of delegated of proof-of-stake or DPOS, and this is different from the platforms of ALGI and XTZ.
The native token is called ICX icon and the annual rewards of staking on this platform is about 6 to 36 percent.