Place/Date: - June 5th, 2023 at 8:17 pm UTC · 4 min read
Source: Caged Beasts
Investors are constantly seeking ways to generate passive income, and staking has emerged as one of the most popular methods for earning a steady Return on investment (ROI) in various blockchain projects across the cryptocurrency landscape. However, there are a few new projects that a finding innovative ways to attract new investors.
In this article, we will compare two established blockchain platforms, Polkadot (DOT) and Tron (TRON), and explore how they offer opportunities for passive income through staking. This article will also cover a new referral programme the presale meme coin Caged Beasts (BEASTS) provides.
Staking can seem daunting, but like most things, it’s simple once you know how. Staking involves holding and locking up a certain amount of cryptocurrency tokens in a blockchain network wallet. Participants contribute to the network’s security, consensus mechanism, and overall operations by doing so. In return for their contribution, those who stake can receive various rewards through additional tokens.
The blockchain platform Polkadot was founded in 2016 by Gavin Wood and operates on a unique multi-chain network called a “para chain,” which allows different blockchains to connect and share information. The native cryptocurrency of the Polkadot network is called DOT.
If you want to earn money via Staking on Polkadot, it involves locking up DOT tokens to participate in the platform’s consensus mechanism and secure the network. By doing so, stakes contribute to the validation and finalization of transactions. In return, they earn passive income in the form of staking rewards. Stakers on Polkadot can earn rewards for contributing to network security and governance.
Led by Justin Sun, Tron boasts a vibrant ecosystem with a dedicated community. Like Polkadot, staking on Tron involves locking up its native TRX tokens to support the platform’s consensus mechanism and secure the network. Stakers earn rewards in TRX tokens for maintaining the network’s integrity while earning passive income.
Tron’s staking mechanism involves the election of Super Representatives (SRs) responsible for validating transactions and maintaining the blockchain. Users can earn passive income through staking rewards by participating in Tron’s staking mechanism and voting for SRs. The rewards received depend on the number of tokens staked and the popularity of the elected SRs.
Passive income has proven to be a very lucrative option for investors willing to dedicate a little time to participate in the project. The new meme coin Caged Beasts may be in the early stages of the presale, but they have already realized the importance of passive income and reward structures.
This Caged Beasts project has already captivated the industry with its exciting backstory. Scientist Rabbit 4001 has caged a series of mutated beasts that will transform after every presale phase, reading for their release onto the market.
One of the main reasons for the excitement behind Caged Beasts comes from its revolutionary referral programme. Once you become an investor of BEASTS, you will have the ability to create a unique code that you can offer to friends and family. For the first time in crypto, the code creator and the new investor will receive a 20% bonus when the code is used.
Staking provides an enticing avenue for generating passive income in the cryptocurrency market. By participating in staking, investors contribute to the network’s stability and security while earning rewards for their commitment. However, it is essential to conduct due diligence and understand the risks associated with each project before engaging in staking activities. With careful consideration and strategic planning, staking can be a viable option for individuals seeking passive income.
Disclaimer: Coinspeaker is not responsible for the trustworthiness, quality, accuracy of any materials on this page. We recommend you conduct research on your own before taking any decisions related to the products/companies presented in this article. Coinspeaker is not liable for any loss that can be caused due to your use of any services or goods presented in the press release.