Staking is quite a newly established process in the crypto world during which holders have part of their owned tokens locked. In other words, they commit in the locking process in order to assist a certain network in verifying its transactions and thus, they get rewarded. Hence, the tokens remain idle or inactive, generate returns and value for their holders, and at the same time, is useful for the network! 

Not all blockchains support Staking! 

Because the concept is rather new, not all blockchain technology platforms support it. Cryptocurrencies which utilize proof of staking models work in a sense that the confirmation of new transactions needs to be done before it is added. In addition, the confirmation of the blocks is done through existing coins, which are utilized as validators. 

Let’s talk about the rewards!

Staking comes with a lot of benefits and values. Whenever a holder stakes, and a new blockchain block is added, the validator gets rewarded in return with the newly minted coins. Also, owners who stake also have voting rights during which they affect what happens to the staked cryptocurrency. 

However, the disadvantages of the process revolve around its direct effect to the market. Whenever the network’s value drops, the value of the assets drop as well. In addition, the rewards are paid in the form of network tokens. However, you should keep in mind that HOLDING is key in the process of staking. 

You’ve got to “risk it to get the biscuit”! 

One example of the process of staking is that of BLACK LEMON’s. Recently, and as part of our innovative project, BLACK LEMON launched their own token, $BOM! In order to earn more $BOM as the project grows and develops, holders and owners need to stake $BOM! In return, they get rewarded with massive returns, $BOM tokens, NFT collectibles, and many more. However, this is a long-term commitment and not a poker game. This is why you’ve got to “risk it to get the biscuit” !!