How To Stake ZILLIQA ZIL For Passive Income - Crypto Staking
21How To Stake ZILLIQA ZIL For Passive Income - Crypto Staking
What is staking?
Staking allows you to earn rewards for holding tokens on a blockchain network.
It requires users to "stake" their tokens with nodes to provide certain services to the network. In return, you will get block rewards.
Staking derives its consensus from a mechanism called Proof of Stake (PoS). A consensus mechanism means the way that a blockchain network agrees on valid transactions.
You will frequently see PoS, stake, and staking used interchangeably.
How does staking benefit me?
Staking ZIL is a great way to put your ZIL to use and earn rewards while contributing to the network.
The annual percentage return (APR) for staking depends on the total amount of ZIL in circulation at any given time.
What is a seed node?
A seed node is a specific node that logs the history of the blockchain network. It allows other seed nodes to locate and synchronise the blockchain's data so more nodes can join.
Zilliqa uniquely relies on a combination of Proof of Work (PoW) and Practical Byzantine Fault Tolerance (PBFT). It further uses staking to incentivise "seed nodes" to join the network.
PoW and PBFT help Zilliqa:
Enhance its network security
Create a low carbon footprint
Solve scalability and slow transaction speeds
Explore our mining page and learn how Zilliqa uniquely combines PoW mining to prevent Sybil attacks and PBFT as our consensus mechanism.
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