fbpx
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Tuesday, March 28, 2023
Online Crypto College
CREATE FREE ACCOUNT
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
No Result
View All Result
Online Crypto College
No Result
View All Result

Chainlink kickstarts new era of crypto economy with staking mechanism

June 8, 2022
in Crypto News
Reading Time: 3 mins read
A A
Chainlink kickstarts new era of crypto economy with staking mechanism
ShareShareShareShareShare

Related articles

Shiba Inu: Billion-$-industry in Paris begin accepting SHIB as payment

Shiba Inu: Billion-$-industry in Paris begin accepting SHIB as payment

March 27, 2023
U.S. regulator sues CZ – Desperate attempt to damage Binance?

U.S. regulator sues CZ – Desperate attempt to damage Binance?

March 27, 2023

  • To roll out the staking, Chainlink will adopt a model of gradual scaling similar to its Price Feeds and improve upon the existing feedback.
  • The initial size of the staking pool will be 25 million LINK tokens and will further expand to 75 million tokens depending on demand.

On Tuesday, June 7, oracle service provider Chainlink announced the much-awaited staking mechanism for the platform and kickstarted a new era of crypto-economy for its users. Staking has been one of the most promising reward mechanisms in the crypto space that incentivizes network supporters.

Chainlink staking will give node operators and community members the ability to increase security guarantees for the platform. The staking of Chainlink’s native crypto LINK will also enhance the ability of node operators to receive jobs and earn fees within the Chainlink Network.

Chainlink has unveiled four long-term goals with its staking mechanism. The goal is to:

  1. Increase Chainlink’s cryptoeconomic security and as well as user assurances of its services.
  2. Enable and boost community participation in the Chainlink Network
  3. Creation and Distribution of sustainable rewards for long-term use. Chainlink has its own Partners Growth Program (PGP) incentivizing projects benefitting from Chainlink’s security to take part.
  4. Empowering Node Operators to Get Higher Value Jobs by leveraging the power of staking.

The rollout and implementation of Chainlink staking

Chainlink said that its primary goal is to have a simple and secure foundation for its staking mechanism. Based on the user feedback, the Chainlink staking will continue to evolve over time expanding its scope.

Furthermore, Chainlink said that the rollout of the staking mechanism will be gradual, similar to what it did with its Price Feeds. This will help them to identify and tackle risks and opportunities at an early stage before scaling. It also said that its staking process will evolve across multiple versions.

The first version v0.1 of Chainlink staking will arrive by the end of 2022. It will focus on building a reputation framework and staker alarming system. Similarly, the second version v2 will focus on loss protection thereby protecting the participating sponsors. In the press release, Chainlink has unveiled a detailed roadmap for its staking program.

As the Chainlink network scales, the v1 version has been planned for a reputation system and shall track a greater number of metrics surrounding the performance of node operations.

How to participate in Chainlink staking?

Chainlink has capped the size of the initial staking pool in v0.1. Thus, it will have distinct allotments to community members, node operators, and the coordinator of oracle networks.

The staking pool will initially have an aggregate size of 25 million LINK tokens. However, it has a planned goal of scaling the pool size to 75 million LINK tokens, depending on the demand. Stakers who participate during the v0.1 release will have their LINK tokens locked at least until the v1 release. The press release states:

To initially fill the community alerter allotment, a fair entry mechanism will be used to help ensure participation from a wide range of community members. This entry mechanism will aim to prioritize long-term token holders, who are most likely to actively participate in the alerting mechanism.

Node operators that actively service Chainlink Data Feeds will be provided their own distinct allotments to fill. A third-party node delegation system is being explored and is currently planned to be supported in the v1 release.

In v0.1, Chainlink has planned for 5 percent as a base level of annualized staking rewards. The LINK price jumped 12 percent following the news. As of press time, Chainlink is trading at a price of $8.42 and a market cap of $3.9 billion.

Related: Chainlink was the main driver of $203B DeFi industry: Bank of America


Credit: Source link

ShareTweetSendPinShare
Previous Post

Mode CEO Rita Liu on crypto adoption and regulation

Next Post

Citadel Securities to Develop Crypto Trading Marketplace

Related Posts

Shiba Inu: Billion-$-industry in Paris begin accepting SHIB as payment

Shiba Inu: Billion-$-industry in Paris begin accepting SHIB as payment

March 27, 2023

Shiba Inu, among other crypto assets supported by Binance Pay and Alchemy Pay, can be used to pay for Instapower...

U.S. regulator sues CZ – Desperate attempt to damage Binance?

U.S. regulator sues CZ – Desperate attempt to damage Binance?

March 27, 2023

The CFTC is suing Binance CEO Changpeng Zhao, accusing him of breaching trading rules. Operation Choke point 2.0 continues. Attacks...

Cardano news hints at possibility for product integration from Avorak AI

Cardano news hints at possibility for product integration from Avorak AI

March 27, 2023

AI integrations in the rapidly changing world of Blockchain technology are a must for secure, scalable, and user-friendly applications. A...

Binance and CEO Changpeng Zhao Face Legal Action by U.S. CFTC For Alleged Derivatives Trading Violations

Binance and CEO Changpeng Zhao Face Legal Action by U.S. CFTC For Alleged Derivatives Trading Violations

March 27, 2023

Binance, one of the world’s largest cryptocurrency exchanges, has been facing regulatory concerns from authorities around the world. The exchange...

Bitcoin Price Analysis: Orbiting 27901

Bitcoin Price Analysis: Orbiting 27901

March 27, 2023

BTC/USD Orbiting 27901 Level:  Sally Ho’s Technical Analysis – 28 March 2023 Bitcoin (BTC/USD) worked to sustain marginal gains early...

Load More
Next Post
Citadel Securities to Develop Crypto Trading Marketplace

Citadel Securities to Develop Crypto Trading Marketplace

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

CFTC Receives DeFi Crash Course

CFTC Receives DeFi Crash Course

March 23, 2023
SHIB Price Prediction for Easter Sunday 2023

SHIB Price Prediction for Easter Sunday 2023

March 22, 2023
South Africa shares crypto regulation update – Cryptopolitan – Cryptopolitan

South Africa shares crypto regulation update – Cryptopolitan – Cryptopolitan

March 26, 2023
Paris Blockchain Week 2023: summit discussions and highlights

Paris Blockchain Week 2023: summit discussions and highlights

March 24, 2023
Scammers Adjust Amid the Bear Season, Chainalysis Reveals

Scammers Adjust Amid the Bear Season, Chainalysis Reveals

March 23, 2023

About Us

We provide the latest crypto news, trading tools, and up-to-date education to students and traders all over the world.

ENROLL FOR FREE

Latest Crypto Headlines

  • Titanium Blockchain CEO Sentenced to Four Years in Prison
  • Vaneck CEO Predicts Bull Cycle for Bitcoin and Gold — Expects Fed Tightening to End Soon – Markets and Prices Bitcoin News
  • Do Kwon’s Montenegro detention extended, registered Serbian company before arrest as fugitive
  • SD lawmakers fail to override Gov. Noem's cryptocurrency regulation veto – Fox News
  • Coinbase Identifies Four Key Innovations for its Layer-2 Network
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 - OnlineCryptoCollege.com - All rights reserved!

No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login

© 2018 JNews by Jegtheme.

  • bitcoinBitcoin(BTC)$27,847.00-0.34%
  • ethereumEthereum(ETH)$1,764.22-0.74%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.00-0.11%
  • binancecoinBNB(BNB)$328.680.48%
  • usd-coinUSD Coin(USDC)$1.00-0.09%
  • rippleXRP(XRP)$0.4876436.23%
  • cardanoCardano(ADA)$0.356168-1.16%
  • dogecoinDogecoin(DOGE)$0.0754450.37%
  • staked-etherLido Staked Ether(STETH)$1,760.54-0.76%
  • matic-networkPolygon(MATIC)$1.08-2.09%
  • binance-usdBinance USD(BUSD)$1.00-0.33%
  • solanaSolana(SOL)$20.65-1.09%
  • polkadotPolkadot(DOT)$6.060.22%
  • litecoinLitecoin(LTC)$92.33-1.53%
  • shiba-inuShiba Inu(SHIB)$0.0000110.92%
  • tronTRON(TRX)$0.064286-0.08%
  • avalanche-2Avalanche(AVAX)$16.92-1.74%
  • daiDai(DAI)$1.00-0.12%
  • uniswapUniswap(UNI)$5.80-0.04%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$27,900.00-0.23%
  • chainlinkChainlink(LINK)$7.18-0.76%
  • cosmosCosmos Hub(ATOM)$11.15-1.58%
  • ToncoinToncoin(TON)$2.163.72%
  • leo-tokenLEO Token(LEO)$3.39-1.80%
  • moneroMonero(XMR)$163.960.62%
  • ethereum-classicEthereum Classic(ETC)$20.12-0.78%
  • okbOKB(OKB)$43.223.02%
  • stellarStellar(XLM)$0.0949002.60%
  • Aerarium FiAerarium Fi(AERA)$7.15-13.10%
  • bitcoin-cashBitcoin Cash(BCH)$123.66-1.69%
  • filecoinFilecoin(FIL)$5.56-0.14%
  • AptosAptos(APT)$11.66-2.02%
  • true-usdTrueUSD(TUSD)$1.00-0.09%
  • lido-daoLido DAO(LDO)$2.20-1.14%
  • hedera-hashgraphHedera(HBAR)$0.060751-1.88%
  • quant-networkQuant(QNT)$123.670.53%
  • crypto-com-chainCronos(CRO)$0.068078-2.21%
  • nearNEAR Protocol(NEAR)$1.93-1.63%
  • vechainVeChain(VET)$0.022637-1.96%
  • ArbitrumArbitrum(ARB)$1.25-3.18%
  • apecoinApeCoin(APE)$4.01-3.08%
  • algorandAlgorand(ALGO)$0.206856-1.89%
  • internet-computerInternet Computer(ICP)$4.90-1.65%
  • blockstackStacks(STX)$0.94-3.66%
  • eosEOS(EOS)$1.140.44%
  • the-graphThe Graph(GRT)$0.139626-1.49%
  • fantomFantom(FTM)$0.439912-1.74%
  • the-sandboxThe Sandbox(SAND)$0.62-3.27%
  • elrond-erd-2MultiversX(EGLD)$42.35-0.76%