What is The Purpose of Staking Coins and How Can Staking Services Help
Staking coins is the process where a cryptocurrency P.O.S (Proof of Stake) wallet stakes a sum of coins when broadcasting to the network that the transaction they are processing is true and not malicious. If the network agrees on the verdict, the verifying wallet will receive a reward in the form of coins on the associated blockchain network.
The overall objective of staking coins is to provide security to the network of transactions. The more wallets staking, the more secure the network is (Ie better protected against 51% attacks). The reward associated with verifying a transaction is intended to work as a remuneration for works completed. Thus the network now has an inherent 'economic value' due to the possibility of earning more of the underlying asset. Compounding interest allows for a single wallet to gain more coins at an increased rate year over year.
Staking coins is one of the most popular ways to generate investment income in the digital asset market. To earn the most from staking, spending less on power is the easiest way to increase profits. The team at StakeSafe want you to earn the most from P.O.S systems with our staking services and products.
If you would like to learn about our staking services, contact us today or learn more on our site at www.stakesafe.com.au