Multi-asset brokerage eToro announced today that it is launching staking services for two popular digital assets, Cardano (ADA) and Tron (TRX).

Staking services allow crypto users to earn rewards, similar to interests, for holding certain digital assets. This concept was introduced with the  Proof-of-Stake (PoS)  Proof-of-Stake (PoS) Proof-of-stake is a type of consensus algorithm in which a blockchain network aims to achieve distributed consensus. It is also process used to reach an agreement on a single data value. In PoS-based cryptos, the creator of the next block is chosen through various combinations and parameters. In essence, an individual person can mine or validate block transactions based on how many coins he or she holds. Adhering to this concept, the more Bitcoin or altcoin owned by a miner, the greater the mining power he or she has.On a blockchain network, consensus algorithms are used to confirm transactions. They ensure that each block (bundle of data) that is added to a blockchain (public ledger) is the singular version of the truth, which prevents fraudulent transactions and other kinds of tampering. Understanding PoS AlgorithmsPoS algorithms do not select the nodes that confirm transactions based on how powerful their equipment is. Instead, the nodes that confirm transactions (called forgers or minters) are selected randomly from a pool of nodes that continuously hold or stake a certain amount of cryptocurrency in a network. In other words, nodes are chosen to confirm transaction based on their wealth. Most PoS networks have a limited number of crypto-coins, all of which are already in circulation. Therefore, forgers do not receive rewards from an uncirculated supply. Instead, they receive payment in the form of transaction fees.By extension, Proof-of-Work (PoW) are another type of consensus algorithm entirely. These reflect a process that is used to reach an agreement on a single data value. PoW can help deter denial-of-service attacks and other forms of service abuse, most notably spam on a network by requiring some work from the service requester. Proof-of-stake is a type of consensus algorithm in which a blockchain network aims to achieve distributed consensus. It is also process used to reach an agreement on a single data value. In PoS-based cryptos, the creator of the next block is chosen through various combinations and parameters. In essence, an individual person can mine or validate block transactions based on how many coins he or she holds. Adhering to this concept, the more Bitcoin or altcoin owned by a miner, the greater the mining power he or she has.On a blockchain network, consensus algorithms are used to confirm transactions. They ensure that each block (bundle of data) that is added to a blockchain (public ledger) is the singular version of the truth, which prevents fraudulent transactions and other kinds of tampering. Understanding PoS AlgorithmsPoS algorithms do not select the nodes that confirm transactions based on how powerful their equipment is. Instead, the nodes that confirm transactions (called forgers or minters) are selected randomly from a pool of nodes that continuously hold or stake a certain amount of cryptocurrency in a network. In other words, nodes are chosen to confirm transaction based on their wealth. Most PoS networks have a limited number of crypto-coins, all of which are already in circulation. Therefore, forgers do not receive rewards from an uncirculated supply. Instead, they receive payment in the form of transaction fees.By extension, Proof-of-Work (PoW) are another type of consensus algorithm entirely. These reflect a process that is used to reach an agreement on a single data value. PoW can help deter denial-of-service attacks and other forms of service abuse, most notably spam on a network by requiring some work from the service requester. Read this Term) consensus mechanism.

eToro detailed that the rewards will be distributed among the users every month in supported  Cryptocurrencies  Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. Read this Term for the previous month’s staking. The brokerage will execute the staking process on behalf of its users and the service will be offered without any additional charges.

“eToro has a large and active crypto community and our goal is to ensure that we are always offering them the very best products and services,” Yoni Assia, eToro’s co-founder and CEO, said. “We are proud to be one of the first regulated platforms to offer a staking service for Cardano and will be further expanding our staking service in the coming months.”

Staking - a Much Sought Service in Crypto

Meanwhile, staking is becoming very popular in the crypto industry, and many major exchanges like Coinbase, Bitfinex, and Binance have also introduced this service for their users.

“We are thrilled that eToro has chosen TRON as one of the first assets to be offered on their new staking service,” Tron’s founder and CEO, Justin Sun added. “As we continue to see diminishing returns from traditional CeFi services, DeFi is continuing to expand. Services such as eToro’s new staking service takes the complexity and confusion out of the staking process, and makes it accessible to everyone.”