{"id":303,"date":"2023-01-08T10:06:04","date_gmt":"2023-01-08T15:06:04","guid":{"rendered":"https:\/\/www.stakepark.xyz\/?p=303"},"modified":"2023-03-08T09:06:56","modified_gmt":"2023-03-08T14:06:56","slug":"why-2023-is-the-year-of-staking","status":"publish","type":"post","link":"https:\/\/www.stakepark.xyz\/why-2023-is-the-year-of-staking\/","title":{"rendered":"Why 2023 is the year of staking"},"content":{"rendered":"\n

A short essay on why we believe 2023 is the year staking goes mainstream…<\/em><\/p>\n\n\n\n

A network relies on validators to ensure the blockchain is running 24\/7 and operating without any risk or fraud. This is done by using consensus mechanisms \u2013 constructs that agree to a particular record, or set of records. And staking is certainly the most future-suited consensus method out there.<\/p>\n\n\n\n

The benefits of staking cryptocurrencies are numerous<\/strong>. For example, you can earn interest on your tokens. This is especially useful if you\u2019re looking at holding onto your tokens for the long term.<\/p>\n\n\n\n

Many cryptocurrencies have a built-in mechanism for paying out dividends, which means if you stake your coins and hold them for a certain period, you will receive a portion of the coin\u2019s total supply as a reward. The more coins you stake, the higher your share of the distribution will be.<\/p>\n\n\n\n

This is APY or annual percentage yield.<\/p>\n\n\n\n