Qtum

Staking with QtumQtum uses the proof-of-stake (PoS) consensus mechanism, and it&#39;s been like this since its very inception, more precisely since Qtum came live on mainnet in September 2017. This means that nodes may lock up their QTUM tokens in the network directly or delegate them to someone else to stake new blocks successfully.There are 2 ways you can participate in Qtum’s staking ecosystem:<ul><li>Online staking</li><li>Offline staking</li></ul><h3 id="strong-online-staking-strong">Online staking</h3>Staking online means you are directly running the staker and validating blocks yourself. To participate, you must download the <a href="https://qtumeco.io/wallet" rel="noopener noreferrer nofollow">Qtum Core wallet</a> and sync it with the entire blockchain. Or you can become a <a href="https://blog.qtum.org/qtum-super-staker-easy-setup-guide-e81afdd1eaac" rel="noopener noreferrer nofollow">Super Staker</a> and stake for other wallets and get rewards by getting a percentage for every block that you built.<h3 id="strong-offline-staking-strong">Offline Staking</h3>Offline staking allows all holders to delegate their non-staking wallet address to a Super Staker without giving up control over their coins and privileges. Address delegation works by the delegator’s wallet sending a smart contract transaction, which identifies the following: delegator’s address, Super Staker’s address, fee the delegator agrees to pay.<h2 id="header-0">The Importance Of Staking Algorithms</h2>While there is no doubting the success of the traditional Proof-of-Work algorithm, it’s hard to look past its effect on the environment. However, lately, things have been looking good, with the Bitcoin Mining Council noting that more than half of the global bitcoin mining is powered by sustainable electricity.However, Qtum believes that the future of mining needs to be completely eco-friendly, and everyone should be able to participate without depending on expensive hardware.Qtum aims to decarbonize all of its practices and its global network of nodes. We have already made significant progress in this regard. As of now, its network uses around 683,300 kWh per year, which is significantly less than Bitcoin’s 204.50 TWh/year.More details on Qtum’s staking can be found <a href="https://medium.com/qtum/introduction-to-qtum-staking-a255adf708a6" rel="noopener noreferrer nofollow">here</a>.

How does Qtum staking work?

Table of Contents

Qtum_Foundation

Other articles published on Oct 20, 2022

Next generation passive income - leveraged staking, liquid staking and spending, and APR boosting

Leading Crypto Exchange Binance Burns $547M Worth of BNB Tokens

Crypto News of the Day: Reddit users open 2.5M crypto wallets, Terra developers share 4-year plan...

Crypto Mugging

2Q22 Project Update

When a hobby becomes a career then success can be easily achieved.

Join our free newsletter for daily crypto updates!