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Bitfinex guide to cryptocurrency staking

Bitfinex launched its cryptocurrency staking service on 7th April 2020. If you’re unfamiliar with how cryptocurrency staking works, we’ve created this quick guide to help give you a better idea about crypto staking, the technology and the philosophy behind it.  Proof of Work vs Proof of Stake Before getting into cryptocurrency staking, first, we need to understand about the underlying concept that enables it. In blockchain, there are various consensus mechanisms, or more familiar as consensus algorithms. A consensus algorithm is a set of rules that govern how nodes validate transactions that will be added to the blockchain. Each blockchain…

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