A perfect collateral for decentralized finance
With Savix a virtual currency is now available for the first time, which makes it possible to profit from staking rewards while keeping the token unlocked and liquid, freely available for use in any DeFi product at the same time.
Protocol Embedded Staking (PES)* used here is deeply anchored in the base code of the currency and does not require any explicit control or triggering by the user. All wallets holding Savix tokens automatically and permanently take part in the staking process.
All contracts and tools needed for deployment are fully developed and in…
The main idea behind the Proof-Of-Stake concept is that participants can lock coins (their “stake”), and at particular intervals, the protocol randomly assigns the right to one of them to validate the next block. Typically, the probability of being chosen is proportional to the amount of coins — the more coins locked up, the higher the chances.
This way, what determines which participants create a block isn’t based on their ability to solve hash challenges as it is with Proof of Work. Instead, it’s determined by how many staking coins they are holding.
Staking cryptocurrency means that you are taking…