Contest !! || Staking of crypto
Introduction
Good day to all my fellow steemian, am so happy to be here, I was told to be active before I can get verified, so I decided to begin with this topic in this wonderful community.
Have you any idea about crypto staking
I will say Crypto staking is a step in which cryptocurrency holders tight up so amount of their digital assets in a staking pool, giving them to participate in the validation of transactions and earn in the form of transaction fees.This step is also known as proof of stake. In contrast to proof of work , which need significant computational power, PoS relies on the amount of already staked coins as a measure of a user's influence in the network. Staking pools allow users to take their resources at once. Giving them chances of earning reward.
Have you ever participated in staking cryptocurrency
For me, I do not have the energy to take part in staking crypto currency, I do not have personal experiences, My knowledge about staking cryptocurrency comes from my Other of my friend, the include includes information from different sources on the internet of Nigeria
How can staking provide you significant benefit
Staking can share good significant benefits to cryptocurrency maintenance in so many ways. Firstly, it allows users to earn good income by participating in the validation of transactions and clamming rewards in the newly transaction fees. This can be a lucrative alternative to traditional methods of earning interest, which are as high-yield savings accounts or certificates of deposit. Two, staking can help increase the growth and development of a particular cryptocurrency by helping users to become active in the network.
Conclusion
Thank you very much for reading my entry I really appreciate, I will love to participate in more contest in this community, wishing everyone all the best. I invite @goodybest @dove11 @tripple-e to participate in this contest.