Cryptocurrency staking is a process where users are able to temporarily lock their tokens in exchange for a reward, most commonly in the form of interest.
Unlike blockchains, which are based on the Proof of Work (PoW) consensus algorithm, like Bitcoin, Polkadot makes use of an algorithm called Nominated Proof of Stake (NPoS).
NPoS comes with many intricacies centered around the interoperability of Polkadot’s parachains, which are essentially connected and secured by the main network, also known as the Relay Chain. Beyond its many features, NPoS also enables staking.
The following guide provides an in-depth explanation of how Polkadot staking works, the different types of DOT staking, their advantages and disadvantages, and potential risks, as well as a step-by-step guide on how to stake Polkadot immediately.
If you want to find more in-depth information, you can also check out our Polkadot guide.
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Understanding Polkadot staking
How to stake Polkadot
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