QURAS and Staking — Why Should You HODL QURAS coins? Part 2

Image for post
Image for post

In part 2 of the QURAS staking series, we will introduce staking with Consensus Node Operation.

Consensus node operation staking

When talking about staking in the blockchain community, we often refer to the staking of consensus node operation.

A consensus node processes transactions on the blockchain and maintains a transaction history to support the transaction network.

In order to become a consensus node, a certain commitment to the blockchain is required. In the case of Bitcoin, you need to commit yourself in the form of mining with computer equipment yourself.

On the other hand, in recent blockchains, the mechanism of staking coins to become a consensus node has become mainstream. By becoming a consensus node, you will be able to earn commission income.

Earlier, building a consensus node required specific knowledge, and it took more time and effort. However, recently, there are several services that enable us to create consensus nodes with a couple of clicks. This means that anyone can easily participate in the staking of consensus node operation.

Image for post
Image for post
XQC staking (left) and XQG burn (right)

The QURAS blockchain also has a mechanism that allows you to earn commissions by staking XQC and operating consensus nodes. By using this mechanism, it becomes possible to receive QURAS GAS coins (XQG) as a commission obtained by consensus nodes.

Details on how to build a QURAS consensus node will be published in a technical whitepaper that should be released in the near future.

In staking, the more XQC you stake, the more XQG you can get.

Staking will be available from QURAS main net operation. In addition, QURAS will start developing a new staking methodology called “Transaction Fee Staking” in the second quarter of 2020.

Written by

Secret Contract Platform for Privacy 2.0

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store