Ethereum

Chainlink

<div class="dailyhodl">
 <p>Blockchain oracle service Chainlink (LINK) has announced a coming upgrade to its staking mechanism.</p>
 <p>Via the social media platform X, the oracle announced Chainlink Staking v0.2, which is currently being prepared with a new pool of 45 million LINK tokens.</p>
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 <p>The upgrade focuses on four main components, according to Chainlink: a new unbonding mechanism, stake slashing, a dynamic rewards system and a new modular architecture to ensure smoother future upgradability.</p>
 <p>Unbonding is the period immediately after unstaking, where coins are typically locked on the blockchain for a certain amount of time before being released to users.</p>
 <p>Stake slashing is when a staker’s coins are taken, or “slashed” by the network if they don’t follow certain rules or behave maliciously.</p>
 <p>The migration to v0.2 is being launched in three phases that prioritize v.01 stakers.</p>
 <p>Chainlink staking went live on the Ethereum mainnet in December of last year with the aim of enhancing the network’s security and helping it serve a bigger range of applications.</p>
 <p>Says the Chainlink blog,</p>
 <p><em>“Chainlink Staking is a key cryptoeconomic security mechanism in which stakers commit LINK tokens in smart contracts to back certain performance guarantees around oracle services. </em></p>
 <p><em>The addition of staking enables Chainlink decentralized oracle networks (DONs) to scale to service a broader range of applications and higher value use cases across Web3 and traditional Web2 industries.”</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/top-ethereum-eth-based-blockchain-oracle-altcoin-announces-next-steps-in-staking-protocol-upgrade-tbt67045.html">https://thebittimes.com/top-ethereum-eth-based-blockchain-oracle-altcoin-announces-next-steps-in-staking-protocol-upgrade-tbt67045.html</a></p>

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