What is Staking coins?
The Stellarity Tokens are based on the Ethereum Network and is a based on a standard called ERC-20. Staking ERC-20 tokens on the Ethereum network is an increasingly popular way for cryptocurrency holders to earn rewards and actively participate in the Ethereum ecosystem. This process typically involves locking up your ERC-20 tokens in specific smart contracts or protocols, contributing to network security, and receiving rewards in return.
Some benefits
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One of the major benefits for staking Stellarity tokens is that it removes the need for continuously purchasing expensive hardware and consuming energy.
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The system offers guaranteed returns and a predictable source of income. Another benefit is that the value of your staked Stellarity Tokens doesn't depreciate unlike with ASICs and other mining hardware. Staked tokens are only affected by market price fluctuations.
How does it work?
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Ethereum 2.0 and Proof of Stake (PoS): Ethereum, one of the most prominent blockchain networks, is undergoing a major upgrade from its current Proof of Work (PoW) consensus mechanism to Proof of Stake (PoS). This transition is known as Ethereum 2.0 and aims to improve scalability, energy efficiency, and security. Staking is a central component of Ethereum 2.0.
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Stellarity ERC-20 Tokens: ERC-20 tokens are Ethereum-based tokens that comply with a specific set of standards. These tokens can represent various assets, including cryptocurrencies, utility tokens, or as the Stellarity Token, a digital representations of physical assets.
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As long as you hold your Stellarity Token you will be rewarded.