Adonis

Staking is the process of locking your coins for any time period set by you in order to help the network achieve consensus of proof of stake by validating every transaction that occurs on the network to be written permanently to the blockchain. In return Stakers that mint the next block are rewarded a block reward.Whenever a user has at least 1 ADON coin in their fully synchronized ADON coin core wallet, that node then is permitted to participate in the network with its corresponding amount of stake. ADON coin uses an advanced Proof of Stake algorithm, which effectively secures the network against malicious actors. This allows ADON coin owners to receive block rewards just by helping to secure the network. Anyone who owns anADON coin can stake and receive rewards.It is simple. Buy ADON coins on the exchange, move coins to your wallet, hold, and unlock your wallet for staking. The more coins you hold in your wallet, the more likely you will get a reward.Hot staking is a staking method that requires the wallet containing your coins to be online 24/7 in order to receive rewards. Cold Staking allows you to delegate your ADON coin to a staking node to stake on your behalf without sending them your ADON coin. This allows you to securely stake without the need for the wallet storing your ADON coin to be kept online.Delegating allows for your selected cold staker address to stake on your behalf without having an access to your funds. After delegating you can safely leave your wallet offline and still receive ADON coin even from a hardware wallet.Cold staking does not require time and attention to monitor the status of your wallet and staking. Also, you do not consume any additional electricity, since your wallet does not have to be turned on. However, if you don’t run cold staking node on your own but use 3rd party services it is worth noting that there is a dependency on those parties that provide you cold staking, and in some cases the variables include security, service fees, and hot wallet node uptime. Remember, if a 3rd party hot wallet goes offline, you will no longer be participating in staking.

Staking On Adonis Blockchain

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