Staking

Staking is a process in which a person holds and locks their cryptocurrency to support the operations of a blockchain network. By staking, individuals contribute to the security and validation of transactions on the network. In return for this service, stakers are rewarded with additional cryptocurrency.

When a person decides to stake their coins, they are essentially putting them in a wallet for a specified period. The length of time the coins need to be staked varies depending on the cryptocurrency and network protocol.

Staking is seen as an alternative to mining, as it consumes less energy and is generally more accessible to individuals. It also helps to decentralize the network by distributing power among various stakeholders who hold and stake their coins.

Overall, staking allows individuals to earn passive income by participating in the validation of transactions on a blockchain network while contributing to its security and decentralization.

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