The word staking has been doing the buzz around the crypto-space for quite some time now. Now, like most of the things associated with the crypto-space, even this can either be a complicated or a simple notion, depending on how many layers deep one decides to go.
For most traders and investors, staking is a way of earning rewards for locking up certain cryptocurrencies. Even though that is the key takeaway, it is essential to slightly delve into the nuances of it.
Well, staking usually happens via staking pools. And, the ultimate reason why the staked cryptos earn rewards is that the underlying blockchain puts them to work. Essentially, cryptos that allow staking use the PoS consensus mechanism.
Staking also has the benefit of contributing to
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