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All you need to know about staking cryptocurrencies-WazirX

If you are a beginner in the crypto world and you have no idea about staking cryptocurrencies. Check this presentation that is all you need to know about staking cryptocurrencies. Learn more at https://wazirx.com/

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All you need to know about staking cryptocurrencies-WazirX

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  1. All you need to know about staking cryptocurrencies

  2. What Is Staking Crypto? • The act of holding cryptocurrency in the wallet for a certain period of time is known as staking cryptocurrencies. Staking is done for supporting the operation and security of a blockchain network. It is also done for earning rewards.

  3. What Is Proof-of-Stake and proof-of-work? • Proof-of-stake and proof-of-work are the two main types of consensus mechanisms used to manage cryptocurrency networks. • Proof-of-stake: • In proof-of-stake miners don’t race to solve a puzzle to get chosen to mine the next block. Participants are selected based on the amount of that cryptocurrency they have staked. • Proof-of-work: • Proof-of-work is used by Bitcoin. It involves miners who race to solve a complex cryptographic puzzle to verify transactions and add them to a block.

  4. What Are Staking Pools? • Just like mining pools, staking pools are also a group of miners who combine their sources to increase their chances of getting selected to create and validate blocks. The rewards shared from validating blocks are further shared equally among the members of the staking pool.

  5. What is the best platform for stacking cryptocurrencies? • Cryptocurrencies like Ethereum, Algorand, and Tezos are widely stacked in 2021. If you are looking for stalking you can trust Binance. Also, if you are exploring one of the most trustworthy platforms for buying cryptocurrencies in India, you can trust WazirX. Although it discontinued staking in October 2020, it is still the biggest crypto exchange in India for all other digital currency transactions.

  6. Thank You

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