04

October, 2021

Cryptocurrency Staking: Kickstarting a Decentralized Revolution

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Cryptocurrency Staking: Kickstarting a Decentralized Revolution

Token staking has quickly become one of the most powerful cryptocurrency-related trends tracked by LikeFolio.

There are two major types of cryptocurrency staking: Decentralized and Centralized.
  • Decentralized Staking is a primary function of blockchains using a Proof-of-Stake (PoS) consensus mechanism — Staked tokens are “locked” inside the network in exchange for the chance to produce a block and receive a reward.
  • Centralized staking is a form of cryptocurrency lending — Services and protocols exist to connect lenders with borrowers, promising an agreed-upon rate of return to the lender.
Consumer Mentions of staking various cryptocurrency tokens for rewards and governance benefits are surging: +96% QoQ and +731% YoY on a 90-day moving average.
Staking rewards are akin to dividend payments, as well as representing an aspect of the growing decentralized economy surrounding the blockchain space.

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