Know Everything About #Staking Vs. #Mining Cryptocurrencies.

Part A(i)

STAKING:

Staking is the process of staking your cryptocurrencies on a platform to earn rewards from your coins. Anyone with the minimal required balance crypto can stake the coins to earn specific crypto rewards from the blockchain.

Staking includes purchasing crypto coins and keeping them in a wallet for a specified amount of time. A fixed deposit in the non-digital money realm is similar to an IRA.

Proof of stake is similar to a fixed deposit, which pays you with a specific interest at the end of the time as specified in the contract.

The network rewards you for supporting it by storing money in your wallet. As a result, the number of coins you have in your wallet will rise based on how long you keep them there.