Staking is an alternative mining method. In short, you buy a coin, put it in your wallet, and make a profit. The profitability can vary depending on the PoS rules that apply to that network.
What are the benefits of cryptocurrency staking?
🔹 Staking is much cheaper. If, in the case of PoW, you need to buy expensive equipment and pay for electricity, PoS requires minimal computing power. A regular old laptop or mobile wallet on your smartphone is enough. It is only essential to be continuously connected to the network.
🔹 Staking is very safe. Of course, you can buy back 51% of all coins and take over the network, but you should understand that this is not practical for an attacker. For example, if now with the launch of the Ethereum 2.0 update. Ethereum switches to PoS, and if someone owns 51% of the network, what happens? The asset’s price will drop, and the owner will lose most of the money because he has more than half of the coins. Therefore, an attack on the network is economically disadvantageous.
🔹 Staking implies asset growth. Indeed, to get more rewards, you need more coins. This mechanism involves the withdrawal of an asset from circulation and, accordingly, growth. It doesn’t work in practice, though. A large number of PoS-powered projects collapsed more than Bitcoin in 2018. But there are enough resources left to rely on in this matter.
🔹 There is no need to have specific knowledge. You only need to buy coins on the exchange and delegate (put) them into staking to your wallet. Then the system calculates the reward on its own.
✅ Tosdis is introducing EasyStake, which is a fair and affordable staking mechanism for all. Built on smart contracts-based staking for all ERC20 tokens initially, we will later expand to include other chains, such as Polkadot, BSC, Tron, and more.
✅ With Tosdis, projects will allow their holders to stake tokens in return for staking rewards in the project’s respective cryptocurrency.
Learn more about Tosdis and its capabilities: