Staking cryptocurrency is a method of verifying cryptocurrency transactions. It entails committing holdings to support and confirm transactions on a blockchain network. Additionally, it is enabling our users to earn passive income from their investments.
How does Staking works?
To begin, users entrust the cryptocurrency protocol with their crypto assets. The protocol selects validators from among those participants to confirm transaction blocks. The more coins pledged, the more likely it is that you will be selected as a validator. Each time a new block is added to the blockchain, new tokens are produced and awarded to the block's validator as staking rewards.
Most importantly, when you stake your coins, they remain in your ownership. You're effectively putting your staked coins to work, and you can always unstake them later if you wish to exchange them.