Everything about Staking, Mining, NFT, Cryptocurrency and more

Staking wiki

Everything you need to know about Staking crypto in 2021

Staking cryptocurrencies is something you might have read about online, but you have absolutely no idea where- or how to start staking crypto? This is a great site to find out!

On FYD staking wiki you learn what staking crypto is, what the definition of staking is, and you can also find a simple explainer video about staking crypto. To learn more about staking crypto, scroll down or open the staking legend.

Staking legend

What is staking?

Simple answer: Staking is the process of earning- or minting cryptocurrency by validating transactions on a blockchain.

Users are only allowed to mint cryptocurrency, when they have an active balance of the desired crypto. The more cryptocoins held, the higher the chance of receiving a blockreward.

Definition of staking crypto

Locking up cryptocoins in a proof-of-stake blockchain for a certain period of time. These locked (staked) coins function as collateral and are used to achieve consensus, which is required to secure a decentralized cryptocurrency network.

Proof-of-Stake cryptocurrencies such as FYDcoin use significantly less energy for maintaining a secure network than Proof-of-Work blockchains such as Bitcoin.