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TagsCan you explain the Hindi meaning of stake in relation to cryptocurrencies?
Mamoor-ickNov 24, 2021 · 3 years ago1 answersCan you please explain the meaning of the term 'stake' in the context of cryptocurrencies in Hindi? I would like to understand its significance and how it is related to the world of digital currencies.
1 answers
- Stake, in the context of cryptocurrencies, refers to the process of holding and validating transactions on a Proof-of-Stake (PoS) blockchain. In Hindi, 'stake' can be translated as 'शेयर' (share) or 'हिस्सेदारी' (hissedari). When you stake your coins, you are essentially locking them in a wallet to support the network's operations and secure the blockchain. In return for your contribution, you can earn staking rewards, which are additional coins given as an incentive. Staking is an alternative consensus mechanism to Proof-of-Work (PoW) and allows for more energy-efficient and scalable blockchain networks.Nov 24, 2021 · 3 years ago
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