In my previous articles, I have talked you about the DeepOnion project and how it is considerably undervalued. If you want to know more about this project, you can also check my previous articles.
In this article I am going to talk you about DeepOnion staking and its 10% reward.
The Basics
Before talking about staking, let’s start with the basics.
First of all, DeepOnion is a hybrid POS (Proof of Stake) and PoW (Proof of Work) private coin.
What does POS (Proof of Stake) and PoW (Proof of Work) mean ?
I found a good explanation on GitHub about PoS and PoW which I am sharing with you :
« In proof of work (PoW) based public blockchains (e.g. Bitcoin), the algorithm rewards participants who solve cryptographic puzzles in order to validate transactions and create new blocks (i.e. mining).
In PoS-based public blockchains, a set of validators take turns proposing and voting on the next block, and the weight of each validator's vote depends on the weight of its deposit."
So, a Proof of Stake system requires the user to show ownership of a certain amount of units, or $onions in our case.
The creator of the new block is chosen based on his weight.
Weight calculation is based on the amount of coins (you own) plus the maturity time that user (or better wallet) has on the network.
In simple words :
Weight = $onions in your wallet + the time that your wallet is online on staking mode
The more coins you have and the more time that your wallet is online on « Staking mode », the more weight you have, and the more possibilities to stake. As simple as that !
The DeepOnion staking reward
The DeepOnion algorithm rewards the users who stake with :
-Up to 10% of their $onions during the first year
-Up to 5% of their $onions during the second year
-Up to 1% of their $onions afterwards
How can I stake?
All you need to is to open your DeepOnion wallet, to unlock it and check the box "For staking only".
That’s all. From that moment staking mode is activated and all you need to do is to wait for your rewards (stakes).
You don’t need to have a powerful PC or a mining rig , you just need to have a normal PC or a laptop or even a Raspberry Pi on staking mode as many hours as possible.
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