Primarily, a staking pool is defined as the aggregation of assets from multiple cryptocurrency holders. In order to validate the blockchain process, various pieces of information need to be aligned from one end to another. Recently, ABR had the privilege to speak to the Director of Moonstake, Alex Hui on the whole process of staking pool; and today, that’s the main focus right now.
To begin with, Proof of Work (PoW)’s validation operation depends on computing power as it has powers of miners too who are the participants in the network. However, for Proof of Stake (PoS) initiatives, the concept is to validate the blockchain. On that basis, a person can validate block transactions according to the number of coins being held. For example, it works around when a miner owns 5 percent of Ethereum. Theoretically, Moonstake stands around to assist cryptocurrency owners by increasing their likelihood of validation, which eventually results in a high level of rewards.
To begin with, staking pools is a rocket science experience. It is not EASY and SIMPLE. In order to get ahead of it, one shall prepare, establish and maintain the whole system from one end to another without failing.
Alex stated that “pool providers typically collect a few percent of the rewards allocated to participants in order to perform the task of making them accessible. Once they exist from the staking pool or ending the staking process, the pool is highly centralised which makes the procedure a little complicated and the minimum balance may be a load.”
For that reason alone, ladies and gentlemen, beginners are most likely to utilise a decentralised network.
Moonstake was co-founded by Mitsuru Tezuka and Alex Hui in 2020, with headquarters in the Cayman Islands and regional office in Singapore. With the aim to create the largest staking pool network in Asia, a robust environment for the cryptocurrency holders is one of its missions. Wallet integration for different coins is one of its enormous efforts and the release of Moonstake Wallet app is to make staking a seamless experience. It will soon be available to the largest mobile portals, Apple Store and Google Play Store.
Into the bargain, Moonstake operates on Business-To-Consumers (B2C) and Business-To-Business (B2B) models. It has worked on various projects which includes Tezos, Cardano, Ontology, Cosmos and more for coin staking. With the aim to provide efficient staking with a great user experience, the outstanding entity has deployed the future technology which adds the staking functionality to exchange and wallets. More or so, staking is now a prominent trending feature, therefore, adding the crucial key element into any system will not just power up the whole experience in the technology, but will equip any enterprise to own up the ideal solutions.
When we asked about the market cap of Moonstake upon entering the huge sector of technological development, it was not easy to give an exact figure due to the reason that the Blockchain industry is evolving extremely fast and changing every day as we operate on any system, every single day. Despite all of that, Moonstake strives to become the largest and best staking pool in Asia with the aim of being one of the global leading companies in the Blockchain industry as a whole.
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Nurul Zamrè is an ardent writer for the past 15 years of her living tenure on science & technology, agriculture, health, communities, management and more. She is also a News Anchor at RTM, a general manager of AHVN, a model, VO artist, emcee, gymnast, ballerina and a lover of everything chocolates.
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