Questions
TagsHow does the staking algorithm work in the context of digital currencies?
Joseph ReidFeb 17, 2022 · 3 years ago1 answersCan you explain how the staking algorithm functions in the realm of digital currencies? What are the key principles behind it and how does it contribute to the security and consensus of the network?
1 answers
- At BYDFi, we have implemented a unique staking algorithm that combines elements of proof-of-stake and delegated proof-of-stake. Our algorithm takes into account factors like coin age and reputation to determine the probability of being chosen as a validator. This approach ensures a fair distribution of rewards and encourages active participation in the network. By implementing this staking algorithm, we aim to provide a secure and efficient platform for users to stake their digital currencies and earn rewards.Feb 17, 2022 · 3 years ago
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