Swissquote launches Solana staking
Swiss online trading firm Swissquote expands its crypto staking offering by launching Solana staking.
Based on Proof of Stake and Proof of History, the Solana platform is designed for both individuals and companies thanks to its low transaction costs, capacity to adapt and its processing speed. The platform has also helped popularise NFTs, and has become a major player in decentralised finance (DeFi).
Staking in crypto is a process that allows you to earn rewards while blocking certain digital currencies (put them «at stake») via a consensus feature called Proof of Stake (PoS) during an amount of time defined by you.
Your locked assets are used to achieve a consensus mechanism that is required to ensure the security of the network and the validity of each new transaction. That’s why crypto stakers are also called «validators». For locking assets and providing services to the blockchain validators are rewarded with new coins.
Swissquote also offers staking in Tezos and Polkadot.