defi staking platform services

Defi staking platform development company blockchainx

What is Staking?

Defi staking platform development Staking is a consensus mechanism similar to cryptocurrency mining that does not require computational power. It consists of keeping funds blocked in a wallet that will fulfill the function of validating and processing transactions of a Blockchain network.

Simply put, you will get rewarded for keeping your funds locked up. You may be thinking "Is that easy?!", the answer is yes and no, like the famous Schrödinger's cat.

Origin of Staking Defi staking platform development company The proof of participation or

Proof of Stake (PoS) is a proposal presented by Sunny King and Scott Nadal in 2012 due to the debate on the high energy consumption that “traditional” mining requires to validate network transactions.

The consensus mechanism widely known as “mining” is called “Proof of Work” or Proof of Work (PoW); It consists of “immobilizing funds” by investing in specialized mining equipment and consuming energy to validate transactions on the Blockchain network.

How does Proof of Stake work?

In any Blockchain network there are transactions that pay a commission to the network to access the right to be validated, they are the ones that the miner receives as compensation for their work. defi staking platform services In PoW, for a miner to obtain this reward, he must compete to discover before the rest of the miners a number called "nonce" that grants him the privilege of including that block in the blockchain and at the same time keeping the reward made up of new bitcoins. along with the commissions.