What is crypto currency staking & how does it work?
When you decide to stake your coins, you set up your wallet to create, approve and validate transactions in the network. The wallet, you are staking with, goes over the blockchain transactions, checks them and makes sure the people sending the money both have the money and can send them. All of that will make you earn rewards (your shares of the transaction fees).
When talking about how staking works, I should also mention coin age, maturity period, network weight and total weight. Coin age refers to the time your coins have been in an address while the maturity period is the number of confirmations needed before you are eligible to start staking. When you successfully stake coins or move them from one address to another, coin age is reset to 0 and you have to wait for the maturity period again. Network weight refers to the sum of coins which are mature enough, while total weight refers to the sum of mature coins total. Nevermind – all of that will be handled by us.