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What is staking and how does it work on the Ledger platform?

avatarHareesh GangineniMar 19, 2022 · 3 years ago1 answers

Can you explain what staking is and how it works on the Ledger platform in the context of cryptocurrency?

What is staking and how does it work on the Ledger platform?
Staking
Ledger Platform
Cryptocurrency

1 answers

  • avatarMar 19, 2022 · 3 years ago
    Staking on the Ledger platform is a feature that allows cryptocurrency holders to actively participate in the validation and security of the blockchain network. By staking their coins, users contribute to the network's operations and help maintain consensus. The Ledger platform provides a seamless staking experience, allowing users to easily delegate their coins to a staking pool or run their own validator node. Staking on the Ledger platform offers a passive income opportunity for cryptocurrency holders, as they earn rewards for their contribution to the network. It's a win-win situation where users can support the network while earning additional cryptocurrency.

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