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Edgeware Mod 5C2C49BE-0B07-4C3F-8D36-B1FB2C7ACC0C Created with sketchtool. 186 Stranger 3 Oct 4 2023 9:09

What is staking in blockchain technology?

  • Edgeware Validator
  • Edgeware Nominator
  • Edgeware Staking
    • Edgeware
Expert

I am new to blockchain technology and have heard the term "staking" being used frequently. Can someone please explain what staking means in the context of blockchain? How does it work and what are the benefits of staking? Thank you in advance for your help.

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undefined 5C2C49BE-0B07-4C3F-8D36-B1FB2C7ACC0C Created with sketchtool. 0 Stranger 0 Oct 4 2023 9:09

Staking is a process that enables EDG holders to contribute to the security and availability of Edgeware by using their tokens to validate. Validators who stake EDG and operate a validator node with honesty will receive rewards in the form of EDG. However, if a validator misbehaves or is unavailable/offline, a portion of their stake will be slashed as a penalty.