Collection Details
Namespace:
nursule
Dataset:
Collection:
Maza2
Owner:
0xef9a73b2f57d2f180bc012d3039d8b9845b21031
Timestamp:
Jan.15.2024 05:56:18 PM
Status:
OnChain
Collection Documents
_idStakingView
60a489ea2620a0a3818c60460ada6a1493ff0df7e0a60b2be552a901ae03ab971
Staking is a process in which cryptocurrency holders lock up their coins in a wallet to support the operations of a blockchain network and, in return, earn rewards. It is an alternative consensus mechanism to traditional mining and is commonly associated with Proof of Stake (PoS) blockchains. Here's a brief overview of staking: 1. Proof of Stake (PoS): PoS is a consensus mechanism used by certain cryptocurrencies to validate transactions and create new blocks on the blockchain. Unlike Proof of Work (PoW), which requires miners to solve computational puzzles, PoS selects block validators based on the number of coins they hold and are willing to "stake" or lock up in a wallet. 2. Staking Process: To stake their coins, holders need to transfer them to a designated wallet or staking platform that supports the particular cryptocurrency's staking mechanism. The staked coins are then temporarily locked and unavailable for regular transactions. 3. Block Validation and Rewards: Validators are randomly chosen to create new blocks based on the number of coins they have staked. The probability of being selected as a validator is typically proportional to the amount of
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