Millimeter Provides Staking
What is staking?
Dear Millimeter Community
Millimeter provides staking service to our users.
So, what Is staking in Cryptocurrency world?
Staking is a way to put your crypto to work and earn rewards on it.
As many of you already know, staking is a concept you’ll hear about often. Staking is the way many cryptocurrencies verify their transactions, and it allows participants to earn rewards on their holdings. Staking cryptocurrencies is a process that involves committing your crypto assets to support a blockchain network and confirm transactions.
Staking can be a great way to use your crypto to generate passive income, especially because some cryptocurrencies offer high interest rates for staking. With cryptocurrencies that use the proof-of-stake model, staking is how new transactions are added to the blockchain.
What is proof of stake then?
Proof of stake in crypto is a consensus mechanism. Which is a way for a blockchain to validate transactions. The nodes in a blockchain must be in agreement on the present state of the blockchain and which transactions are valid.
Now that you know what staking is, next time let’s go over what benefits staking has!