Understanding Staking and Generating Passive Income in the World of Cryptocurrency

Written by AnkushGupta | Published 2019/08/31
Tech Story Tags: staking | passive-income | generating-passive-income | cryptocurrency | proof-of-stake | disadvantages-of-staking | advantages-of-staking | latest-tech-stories

TLDR Cryptocurrency staking is a way of generating passive income to holders of coins. It is a consensus algorithm which creates new blocks which are added to the blockchain. The more a person stakes their coins, the additional coins they get. Staked coins are locked in a wallet for a period of time and as a reward, more coins are added. The value of your holdings staked does not increase or decrease with time unlike ASIC and other mining equipment. Staking of coins reduces the 51% attack commonly experienced by miners.via the TL;DR App
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Written by AnkushGupta | CMO, Fameninja
Published by HackerNoon on 2019/08/31
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