Staking (Staking Mining) has been very popular recently. It seems that you can’t say hello to others in the currency circle without knowing that Staking.
Staking is essentially a product that is similar to the fixed income of the currency circle. The bear market environment has given it the soil for its development. It provides scenarios that users can accept in the short term, such as node services, especially the special time when the exchange joins. The public knows better that 2019 is the first year of Staking.
Staking is a verification process under the POS consensus mechanism. In the POS mechanism, all nodes need to pledge tokens to participate in the consensus. At the same time, the public chain network verifier is also the holder of the token, and the pledger needs to lock their tokens as collateral , In exchange for the right to verify blocks and mining rewards. In the POS consensus mechanism project, all miners must hold coins, and anyone can participate in staking to “earn coins” through encrypted asset mortgage lock-up. If POW tokens used to provide rewards through calculations, then POS participates in staking through encrypted asset mortgage lock-up.
Although there are still people who are skeptical about whether staking can make money, it has to be said that instead of letting “digital assets” lie quietly in their wallets, most people choose to do staking to increase the share of Token in the entire network. Share. In order to make this income truly reach a positive value, DEMOS, which has the advantage of a public chain, adopts a democratic voting method to provide high income from staking. The process is as follows:
Users who want to participate in staking first need to open a democratic certificate, bind the corresponding mining pool, and then use DOS to buy votes (refer to the figure below for the detailed process). DEMOS adopts a POW+POS dual consensus mechanism, and it is set that when POW miners generate each block, at least 5 votes are required for confirmation, and there can be up to 20 votes. 30% of the DOS rewards for block generation will be shared equally by the selected voters, 60% of the rewards will be obtained by POW miners, and the remaining 10% will be entered into the community account as a community fund. The process from voting to the selection of a vote is called a smashed vote. If the smashed vote is successful, the principal and rewards will be credited to the account at once. As of the time of publication, the ticket price is about 321.86DOS, the unit’s blast ticket reward is about 37.32DOS, and the rate of return is as high as 11.6%.
Since voting is randomly selected, the vote-popping cycle is also random. Participants can purchase multiple tickets to increase their vote-popping rate.
DEMOS’s mature ticket mechanism (that is, the ticket pool can only hold up to 40960 tickets at the same time) guarantees that the cycle of votes will not exceed 142 days. Tickets that have not been selected after this time will be returned. The selection rate is only 0.5%. According to the feedback from the DEMOS community, the average cycle of the current vote burst is about 28 days, and the vote burst in the fastest day.
The DEMOS autonomous community has a mining pool freely formed by participants. The role of the mining pool is to vote on behalf of miners when they need to vote, and vote online 24 hours a day. As of the publication time of this article, DEMOS has 13 mining pools with a total pledge amount: 848,048. The largest mining pool pledge amount is 374,069, which shows the popularity of DEMOS Staking.
For the cryptocurrency industry, staking in the POS mechanism has two main functions, namely, maintaining security and incentivizing user participation. Just like the founder of Babbitt said: “The biggest significance of staking is to increase community participation, because when participating in staking, the vast majority of token holders and project parties are communities of interest.” DEMOS Staking On the one hand, the marketization of revenue encourages users to participate in DOS voting (staking) to increase revenue, and on the other hand, it also provides effective guarantees for the decentralization and security of DEMOS.
Staking economy has become an emerging model for blockchain participants to obtain stable income. As more and more investors pour into this track, it is foreseeable that Staking proceeds will eventually sink into the community economy, and the hidden value will inevitably be unlimited.
DEMOS, as the global basic public chain, is here the track is bound to go straight ahead.
Website:
www.doschain.org
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