You might be wondering “What is Staking” when it comes to learning about cryptocurrencies. In this video, we will go over what staking is, how to set it up, and the benefits of it.
Proof Of Stake is a blockchain verification method that is much more energy-efficient and less risky than the more common Proof of Work method. Only one miner is chosen as a time to validate the blockchain, but the miner must lock up some of their coins as collateral to be chosen. The miner is punished for creating any fraudulent transactions by losing their collateral, and rewarded for good transactions by the creation of new coins and with the transaction fees the senders paid.
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