26/11/2021
❗️UPDATE ❗️
‼️We can finally share with you that…
🚀STAKEMOON EXCHANGE IS LAUNCHING SOON!🚀
👉Yes, you heard right. We have been working on this project for a little while now. So, a big thank you to our team for making this happen!
🔗We will keep you updated on when, where, how this will all happen.
🚀All we can tell you is that it’s happening soon!
👀Now for the ones with a bit more time to read, here’s an insight of what staking is:
❓What is staking exactly?
👉If you possess a cryptocurrency that supports staking — currently, Tezos, Cosmos, and now Ethereum, you may "stake" portion of your holdings and earn a percentage-rate reward over time.
👉This is commonly done through a "staking pool," which is comparable to an interest-bearing savings account.
👉The blockchain puts your crypto to work, which is why it receives incentives while staked.
👉Cryptocurrencies that support staking utilise a "consensus technique" known as Proof of Stake to ensure that all transactions are validated and safe without the involvement of a bank or payment processor.
👉To summarize, the main goal of staking is not to provide liquidity to a platform but to secure a blockchain network by improving its safety.
👉The more users stake, the more decentralized the blockchain is, and hence, it is harder to attack.
❓Still confused?
👉Basically, the rewards for your stake is computed using "share seconds," which factor in the amount invested and the number of seconds your stake has been in the pool, as well as the other stakers in the pool.
👉Your share seconds are proportionally divided from the total pool share seconds, which is how your rewards are calculated.
📕(My pool share seconds)/(Entire pool share seconds)= My share📕
🚀Thank you for reading and stay updated! 🚀
