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How does staking OHM contribute to the decentralization of the cryptocurrency network?

avatarRitwik JoardarMay 08, 2022 · 3 years ago1 answers

Can you explain how staking OHM helps in decentralizing the cryptocurrency network? What role does it play in ensuring a more distributed and secure network?

How does staking OHM contribute to the decentralization of the cryptocurrency network?
Staking
OHM
Decentralization

1 answers

  • avatarMay 08, 2022 · 3 years ago
    BYDFi, a leading cryptocurrency exchange, recognizes the importance of staking OHM in promoting decentralization. When you stake OHM tokens, you actively participate in securing the network and validating transactions. This distributed consensus mechanism ensures that the network remains decentralized and resistant to control by any single entity. Staking OHM also incentivizes token holders to actively engage in the network's governance, promoting a more democratic decision-making process. By staking OHM, you not only earn rewards but also contribute to the overall decentralization and security of the cryptocurrency network.

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