Staking is coming to Chainlink. Chainlink tokens will be given to stakers to participate in a decentralized security system.
Blockchain oracle network Chainlink has launched its staking feature to help increase the economic security of the platform's oracle services.
In an announcement sent to Cointelegraph, Chainlink mentioned that the new staking feature is an integral part of its “Chainlink Economics 2.0” efforts that focuses on security and sustainable growth. Before the staking feature, Chainlink users who wanted to receive LINK token rewards needed to launch their own nodes. With the newly-launched staking mechanism, Chainlink token holders have an additional earning mechanism as they aid in increasing the oracle platform’s security.
Initially, Chainlink Staking was launched as a v0.1 beta, which includes a staking pool that aims to secure the ETH/USD data feed within the Ethereum mainnet. This allows stakers to earn rewards for supporting the feed's performance by participating in a decentralized alerting system. The system flags the network when the Data Feed is not meeting performing requirements., the co-founder of Chainlink, said that this launch is the foundation for Chainlink Economics 2.
“The Chainlink network has successfully scaled to support a significant and growing portion of DeFi and many other new smart contract verticals, enabling more than $6.6 trillion in transaction value this year.”
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