Proof of Stake Blockchain Consensus
Various blockchain networks, such as Ethereum and Cordano use the Proof-of-Stake (PoS) consensus mechanism as a means of network security and transaction validation. In return for securing the network, participants receive profits on their staked funds. Through staking, individuals can earn passive returns on uninvested funds by locking up select amounts of cryptocurrencies for a predetermined period of time.
How to Stake Crypto
Although it is possible to open your own staking validation node, this process can be difficult and
involved. Instead, staking can be achieved through multiple third-party services which enter your staked
crypto into their existing validation node and return profits back to your account. Simply open a
staking-supported wallet or account such as Binance or Metamask, select a cryptocurrency to stake, choose
the duration of your staking, and lock up your funds. It’s important to note that you won’t be able to
access your staked crypto until the culmination of the staking term.
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