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Can you explain the Hindi meaning of stake in relation to cryptocurrencies?

avatarAyana dipuDec 17, 2021 · 3 years ago1 answers

Can you please explain the meaning of the term 'stake' in the context of cryptocurrencies in Hindi? I would like to understand its significance and how it is related to the world of digital currencies.

Can you explain the Hindi meaning of stake in relation to cryptocurrencies?

1 answers

  • avatarDec 17, 2021 · 3 years ago
    Stake, in the context of cryptocurrencies, refers to the process of holding and validating transactions on a Proof-of-Stake (PoS) blockchain. In Hindi, 'stake' can be translated as 'शेयर' (share) or 'हिस्सेदारी' (hissedari). When you stake your coins, you are essentially locking them in a wallet to support the network's operations and secure the blockchain. In return for your contribution, you can earn staking rewards, which are additional coins given as an incentive. Staking is an alternative consensus mechanism to Proof-of-Work (PoW) and allows for more energy-efficient and scalable blockchain networks.