What Is Cryptocurrency Staking?

[brecalynch]

What are two forms of this incentive mechanism, staking, and mining?

[bittpress]

Staking is the purchase of cryptocoins and keeping (holding) them in a cryptocurrency wallet for a particular period of time. This is similar to a fixed deposit in the fiat currency world which rewards you with a fixed interest rate at the end of the stipulated time in the contract.

[TheHero]

the Proof of Stake (PoS) algorithm that is one of many new cryptocurrencies algorithm and people called them as staking. staking involves the purchase of cryptocoins and holding them in a wallet for a particular period of time. This is akin to a fixed deposit in the non-digital currency sphere. Similar to a fixed deposit which rewards you with a defined interest at the end of the period as stipulated in the contract, Proof of stake also rewards you with additional coins. By holding coins in your wallet, you are rewarded for supporting the network. Therefore, the more coin you have, the more reward you will get too. Its difference with mining. Mining requires technical know-how as well as computational power so as to solve the algorithmic puzzles involved in blockchain networks. Beside that Mining need you to buy  machine, like ASICS or high-end GPUs to mining your coins and it will cost you more electrical cost than staking for itself

[betece777]

if I prefer to mine instead of lurking because I think lurking is not necessarily successful and most fail with bare hands in different ways by mining the possibility of success is quite large and almost promising

[simplex]

Staking is the purchase of cryptocoins and keeping (holding) them in a cryptocurrency wallet for a particular period of time. This is similar to a fixed deposit in the fiat currency world which rewards you with a fixed interest rate at the end of the stipulated time in the contract.

[Hope15]

Staking or Proof of staking (PoS) is a relatively new consensus algorithm for some digital currencies. It creates new blocks that are added to the blockchain. These blocks are staked by a person who is already holding some coins and helps in validating a new transaction on the platform.

[napster]

Being eligible to run a node means you are going to be awarded for that, so called staking.
Most of the new projects are focusing on this.

It is a good thing.

[Black ID]

Staking, because mining is very difficult now. Especially mining old coins like Bitcoin and Ethereum. Mining also requires a large electricity supply and must use special tools.

[Anggit]

I prefer to mine rather than lurk, by mining we can directly jump in the crypto industry, we can get income directly from mining, maybe we can succeed by mining.