Glossary - ChicksX

Staking is locking cryptocurrency in a wallet to support network operations and earn rewards or interest.

Staking is the process of holding and locking a specific amount of cryptocurrency in a wallet. This supports the operations and security of a blockchain network. By staking, participants help validate transactions and maintain the network’s integrity. In return, they earn rewards, often in the form of additional cryptocurrency. It's similar to earning interest on a savings account. The more coins you stake, the higher your potential rewards. Staking is common in proof-of-stake (PoS) and delegated proof-of-stake (DPoS) blockchains. It encourages long-term holding and provides a way to earn passive income in the crypto space.