Staking refers to a method of proposing or verifying new blocks in a blockchain network that uses the Proof-of-Stake (PoS) consensus algorithm. By staking digital assets, users who hold digital assets Participate in the blockchain network consensus process, contribute to the block proposal and verification process, and receive compensation accordingly.You can receive . Unlike the Proof-of-Work (PoW) consensus algorithm, which consumes a lot of power and computing resources to maintain the network, the network can be maintained and security improved based on staked digital assets, and rewards are paid for this series of activities.
The process of entrusting a user’s digital assets to participate in this network consensus process is called ‘staking’, and the process of stopping staking and recovering the assets is called ‘unstaking’.
There is a certain waiting period between applying for staking and being activated on the network, which depends on the policies of each blockchain network and the Upbit deposit/withdrawal system.
Once staked, the asset will not expire until the user requests to unstake it, which must be done in order to trade this digital asset.
The waiting period for staking and unstaking can be checked on the detailed page for each staking asset.