The Proof of Stake Cryptocurrency algorithm could have several powerful and disruptive implications for the innovative gaming industry — driving new possibilities between the game worlds that fascinate us. But what exactly is staking?, and how can you stake in the crypto markets?
Assuming 2020 could be seen as the year of Decentralized Finance(DeFi), a noteworthy notice should be made of the central role that crypto assets staking played in the ascent of this new generation of crypto assets.
The industry witnessed a consistent rise, and sometimes a flood, in the number of users staking crypto to acquire fixed revenue or yield farming rewards, as the number of miners on Proof-of-work (PoW) blockchains gradually started to dwindle, market-leading Bitcoin excluded of course.
What is Crypto Staking?
Staking is an activity where a user locks or holds assets on a smart contract deployed on different platforms to participate in keeping up the operations of a proof-of-stake (PoS)- based blockchain system. It is like crypto mining in the sense that it assists a network achieve consensus while rewarding users who take part.
Referring from CAZI CAZI platform, staking generally refers to giving rewards to the users based on their staked amount and time, proportional to the total staked and emission rate from the mining pool, we have extended it to share our house profit and loss with the stakeholders, in order to make a truly decentralized virtual land.
In staking, the right to approve transactions is backed into how many coins are “locked” inside a contract. However, just like mining on a PoW platform, stakers are incentivized to find another new block or add a transaction on a blockchain. Aside from incentives, PoS blockchain platforms are adaptable and have high transaction speeds.
What can I stake on CAZI CAZI?
Thanks to the developing popularity of staking, there are tons of users who need to earn passive income with their idle crypto-assets. CAZI token is the utility token of the
CAZI CAZI platform based on the BEP20 standard of the Binance Smart Chain. CAZI token is used for the following:
- Staking
- House Dividends
Exchanges have naturally jumped into the staking business, thanks to the extensive number of users on their platforms.
By staking, traders can diversify their income stream and monetize their idle funds on exchanges. Binance is the largest digital currency exchange by trading volume. Therefore, many investors find it at the top of their lists when they contemplate staking through trading platforms.
What are the benefits of Proof of Stake in gaming?
Proof of Stake could bring about massive changes to the gaming industry. Here are few of the perceived benefits that may be realized for implementing and supporting such a system:
Minting of premium currency could be distributed to players.
Proof of Stake cryptocurrency could be used to support in-game cosmetics (or even entire in-game economies). With the former, it would be a way for developers to implement crypto into their games. Participating in the network themselves would provide validity to the currency’s blockchain as well as give the developers/publishers a way to sell the cryptocurrency to players directly.
The proof-of-stake algorithm could be tweaked to give players more staking power or increase the likelihood of staking based on the time they play any games supported by the cryptocurrency. A system like this could be used to support multiple games by the same publisher — or even an entire ecosystem of games in the industry. Players would have more direct control over their currency, but developers and publishers would still have ways of influencing and profiting from the use of cryptocurrency in their games.
Axing transaction and credit card fees by selling direct.
By supporting a cryptocurrency for in-game use, publishers would pay less transaction fees to generate revenue. The prime stakers (i.e. publisher wallets with massive balances) in the proof of stake network could take a tiny percentage cut of each transaction so they would actually profit on player-to-player trades and interaction with the cryptocurrency. Because the cryptocurrency could be sold directly to players and would have intrinsic value on its own, publishers would effectively pay less in fees to generate new revenue through this system.
The Future of Crypto Staking
Ready … set … stake. From the above discussion, it’s clear that staking is healthier (environmentally and perhaps economically) than PoW-based mining. As such, it’s rightfully gaining momentum and an increasing market share in the crypto sector. The shift towards staking received new strength when CAZI CAZI finally made the shift and officially welcomed staking in gaming in 2021.
To better put things into perspective, CAZI CAZI is using smart contracts to make sure complete transparency of transactions, e-gaming, and crypto storage. Meanwhile, what you get is an edgeless array of games like blackjack, roulette, baccarat and other options sure to excite your senses.
However, a superb advantage of decentralized virtual pleasure land is providing a platform that permits for greater flexibility in decentralized traded crypto assets.
Summing Up
In staking, the right to approve transactions is backed into how many coins are “locked” inside a contract. However, just like mining on a PoW platform, stakers are incentivized to find another new block or add a transaction on a blockchain. Aside from incentives, PoS blockchain platforms are adaptable and have high transaction speeds. So, CAZI CAZI virtual decentralized platform based on Proof-of-stake (PoS) algorithms offering promising implications for the innovative e-gaming industry, driving new possibilities between the game worlds that fascinate us. Happy staking!
To learn more about CAZI CAZI, please visit:
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