How To Stake Polkadot (DOT) in 2023
In contrast to Bitcoin’s constrained proof-of-work (PoW) blockchain, the Polkadot blockchain permits cross-blockchain transfers of any kind of data or asset. Additionally, the project uses less infrastructure and enables more transactions per second. Polka DOT uses a nominated proof-of-stake (NPoS) blockchain, with a focus on the interoperability of parachains. The parachains are connected to, and secured by the Relay chain. The Relay chain is a flexible and scalable blockchain solution. Moreover, validators can validate both the Relay Chain and the parachains. The network supports trading, staking, bonding, paying transaction fees, and voting with the project’s native token, called DOT . How staking Polkadot works In Polka DOT staking, validators are nominated using DOT tokens in exchange for rewards. The complex NPoS mechanism allows nominators to choose the validators who are permitted to take part in its consensus protocol. Additionally, a network is considered to be more de...