Chainlink has launched its staking feature to help increase the economic security of the platform’s oracle services.
Chainlink stated that the new staking feature is an integral part of its Chainlink Economics 2.0 efforts that focuses on security and sustainable growth.
Chainlink users who wanted to receive LINK token rewards needed to launch their own nodes. With the newly launched staking mechanism, Chainlink tokenholders have an additional way to earn while helping increase the oracle platform’s security.
Chainlink Staking has initially been launched as a v0.1 beta, including a staking pool that aims to secure the ETH/USD data feed within the Ethereum mainnet. This allows stakers to earn rewards for supporting the feed’s performance by participating in a decentralized alerting system. The system flags the network when the data feed is not meeting performance requirements.
The co-founder of Chainlink, Sergey Nazarovsaid that this launch is the foundation for Chainlink Economics 2.0 and will eventually improve. As the network continues to expand, Chainlink Staking will continue to evolve and deliver enhanced security across our ecosystem and throughout Web3.
