Understanding Staking in Emobank

Dear readers, before we delve into staking in Emobank, let us first understand how staking works in the cryptocurrency world. 

For those of you who are unaware, the option of staking or ‘locking up’ a small portion of the cryptocurrency you own, is becoming quite a popular way of smart investment. Are you new to this term? Nonetheless, we are here to make you understand it all in a simple way. So, get ready with your reading glasses! 

The term staking refers to ‘keeping aside’ or ‘locking up’ a portion of your assets. Similarly in the cryptocurrency world, staking can be understood as depositing a portion of your salary or saving in a bank so as to earn interest in the long term. If we talk about cryptocurrency then staking means locking up some portion of the tokens (of the cryptocurrency you hold) within the blockchain. The locked-up tokens are out of the regular circulation of the token in the blockchain for a specific amount of time. 

In cryptocurrency, a particular protocol of the network delegates the holding of the investor and agrees to not withdraw it for a set period of time. Staking in cryptocurrency has primarily two consequences, first, it may surge the value of the token due to limited supply, and second, the locked up tokens can be in the process of proof-of-stake. The term ‘proof-of-stake refers to staking in order to forge a fresh block in the blockchain and the users participating in the proof-of-stake are rewarded. The staking rewards incurred by the users include: 

  • Through staking, the users can earn a stash of coins or tokens. Although the stakers chosen for reward are usually random, stakers earn interest through this process. So, it is sort of a win-win situation for them. 

  • The process of staking required lesser power (of connected computer networks around the world) especially as compared to the mining of new coins. 

  • The users who stake their tokens get voting rights within the blockchain community or network of the specific cryptocurrency.

  • Last but not the least, stalking helps in growing the holdings (of tokens). 

This brings us to address the elephant in the room, i.e, Staking in Emobank. 

What is EMO Stake? 

Emocoin is certainly the future of digital currency because presently, the option of staking is provided by a very less number of cryptocurrencies floating in the market. But, the extensive functionality of Emocoin allowed you to not only purchase but stake your tokens. 

The component of EMO Staking lets you buy Emocoins and then freeze them easily within the ecosystem for a certain period of time. Those of you who access this service provided by the Emocoin platform will be remunerated by earning more tokens of Emocoin. Also, as and when you freeze your Emocoins, you become a part of the security framework of the ecosystem and it leads to an increment in price valuation of the Emocoin as a cryptocurrency. On the other hand, if you’re wondering what happens to the tokens you freeze, then don’t you worry as they are used to give loans to the borrowers (of the Emocoin ecosystem). 

Therefore, the flow is maintained. Now, without waiting any further, go on and register yourself on emobank.digital to become a part of the Emocoin ecosystem.

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