Which coins to stake?
Which coins can I Stake?
Ethereum 2.0
One of the most sensual staking options is Ethereum 2.0,.
Ethereum is the second-most popular cryptocurrency platform. If you have invested in ETH, you can essentially help the system flourish by becoming one of its early validators.
In order to stake on ETH 2.0, you need to own a minimum of 32 ETH, as well the Eth1 mainnet client. Start by heading over to the Eth2 Launch Pad.
Of course, if you followed the DeFi industry’s bang in 2020, you’ll know that much of their growth can be credited to the staggering potential rewards that yield farming protocols operating as ERC20 tokens offer to investors.
Matrix AI Network (MAN)
Matrix AI Network (MAN) was founded in 2016, an open-source, distributed computing platform and operating system that unites artificial intelligence (AI) and blockchain. The project aims to enhance the speed, flexibility, security, and 'intelligence' of blockchains. It is purportedly able to support 50K transactions per second and uses a Hybrid PoS + PoW consensus mechanism. The consensus mechanism makes use of value-added computation through the use of the Markov Chain Monte Carlo (MCMC) computations. MATRIX Intelligent Contracts use Natural Language Programming and adaptive deep learning-based templates to auto-code. MAN tokens are mined and used to power real-world applications. The project has reportedly collaborated with Beijing cancer Research hospital to improve the speed and accuracy of a cancer diagnosis.
To stake on Matrix, a user needs to have 100 MAN coins (min.) in the man wallet to participate in the joint mining.
Annual percentage yield on MAN coin staking ranges anywhere from eleven to thirteen percent.
Tezos (XTZ)
Tezos was born in June 2018, causing a major storm as the biggest initial coin offering (ICO) with over $230 million in investment. It implements a version of PoS called liquid proof-of-stake (LPoS).
Tezos’ native currency is called XTZ and calls the staking process, “baking.” Bakers are rewarded using the native coin. Furthermore, malicious bakers are penalized by having their stake confiscated.
To become a staker/baker on Tezos, a user needs to hold 8,000 XTZ coins and run a full node. Luckily, third party services have emerged, allowing small coin holders to delegate small XTZ quantities and share baking rewards. Annual percentage yield on XTZ staking ranges anywhere from five to six percent.
Algorand (ALGO)
Algorand (ALGO)’s main aim is to drive low-cost cross-border payments. Being a PoS protocol, the network needs stakers for security and transaction processing. Unlike Tezos, it uses the pure proof-of-stake (PPoS) consensus mechanism. However, it still requires stakers to run full nodes.
Furthermore, there are third parties who support ALGO delegation. Staking rewards on these networks range between five and ten percent annually. Note that the rewards are influenced by the platform used. For example, those using Binance Staking enjoy an APY (annual percentage yield) of 8%.
Icon (ICX)
The complex Korean blockchain project Icon (ICX) offers another platform that natively allows staking. However, Icon differs from Algorand and Tezos in that it uses the delegated-proof-of stake (DPoS) consensus algorithm. With this model, a select number of users find new blocks and verify transactions while others delegate their coins to these entities.
Icon has a native token called ICX. Annual staking rewards on ICON range anywhere between six and 36 percent.
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