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Visiting Brian Torphy(username: joxojej)
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Creation date: May 2, 2024 1:03am Last modified date: May 2, 2024 1:03am Last visit date: Jul 26, 2024 6:28pm
2 / 20 posts Displaying comment thread
May 2, 2024 ( 1 post, 1 reply )
5/2/2024
1:03am
Brian Torphy (joxojej)
I would like to know how staking cryptocurrency works? I mean, what is its working algorithm? Let's say, if we talk about mining, it works by an algorithm a set of rules and mathematical operations used by miners in the process of mining cryptocurrencies with proof of work. So how is it different from mining?
This method of earning is based on the PoS mechanism, and means the following: everyone can support the blockchain by investing a certain amount of their cryptocurrencies in stakes and earn passive income for it. I am currently earning from Dym staking, it earns me about 3% of my annual earnings https://xbanking.org/.
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