What is StakedWallet?
StakedWallet is a next-generation cryptowallet that is quite different
from others. It was created to satisfy today’s market needs and not only
for profit.
For instance, coins sitting for 3 months could earn 20 percent. The total (meaning the sum of the originally deposited coins, any coins added later and the interest) can then be allowed to sit for 6 months to earn 50 percent, while those sitting for 12 months could earn 100 percent.
Ideally, or in technical terms, staking is the process that a cryptocurrency wallet uses to validate transactions in the network and award you with coins as rewards.
In the validation process during staking, a wallet checks transactions to ensure that the person sending coins actually owned the coins and has the right to transfer them before doing the transfer. Staking wallets work hand in hand with each other in a given crypto network in doing validation for each of the network transactions posted and a transaction is validated (or passes the validation process) if many of the cryptocurrency staking wallets agree that the transaction is valid.
Staking is what helps the digital currency network secure because a person cannot validate his or her own transactions using his or her wallet and the coins earned are the rewards wallets get for maintaining the security of the network.
For instance, coins sitting for 3 months could earn 20 percent. The total (meaning the sum of the originally deposited coins, any coins added later and the interest) can then be allowed to sit for 6 months to earn 50 percent, while those sitting for 12 months could earn 100 percent.
Ideally, or in technical terms, staking is the process that a cryptocurrency wallet uses to validate transactions in the network and award you with coins as rewards.
In the validation process during staking, a wallet checks transactions to ensure that the person sending coins actually owned the coins and has the right to transfer them before doing the transfer. Staking wallets work hand in hand with each other in a given crypto network in doing validation for each of the network transactions posted and a transaction is validated (or passes the validation process) if many of the cryptocurrency staking wallets agree that the transaction is valid.
Staking is what helps the digital currency network secure because a person cannot validate his or her own transactions using his or her wallet and the coins earned are the rewards wallets get for maintaining the security of the network.
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