To operate a validator node in NEAR, you need to send NEAR cryptocurrency to the staking smart contract. In addition, you will need equipment that meets the requirements of the protocol.
NEAR Protocol: Validator Stakes, Rewards
The specific stake size depends on the number of coins held by other validators in a particular shard. This metric also determines the size of the fraction of block rewards that the newtwork pays out every epoch (12 hours). Each shard in NEAR contains 100 seats. To function as a validator, you must have at least one “seat”. The value of each “seat” is related to the total number of NEAR tokens locked in the shard’s staking contract. However, validators who break the rules risk losing part of their stake.
Staking Pools Dynamics
This model is designed to motivate validating nodes to support the operation of new or smaller shards that have a lower entry threshold. If the user does not have enough funds to purchase enough NEAR cryptocurrency to purchase a “space,” he can try to persuade delegates to transfer funds to him for management through staking pools. By delegating tokens, users receive a portion of the reward for new blocks from the validators they stake on. According to the Staking Rewards website, NEAR staking yield is 5-20% per annum.
Why To Stake NEAR?
- NEAR staking is a simple and effective method for increasing the security and efficiency of the network. In addition, it does not require additional equipment or complex settings from token holders. This is a simple way that allows users to earn rewards.
- Staking NEAR tokens involves participating in the network as a delegate. As delegates, participants provide support to validators who are entrusted with the security of the network. As a reward for this support, they receive a percentage of staking. In addition, this percentage is distributed in proportion to each user’s share of the total amount of staked tokens.
- Validators are organizations that run nodes, validate transactions, and produce new blocks in the NEAR protocol. Validators are responsible for ensuring the security of the NEAR protocol, and your staking reward depends on their work. When choosing a validator, consider their fees, hours of operation, and track record. A list of validators can be found in the NEAR Explorer blockchain explorer.
- By staking on NEAR, users contribute to the overall security of the network by helping to confirm transactions and protect the blockchain from potential attacks. Such active participation not only benefits the user, but also strengthens the entire ecosystem.
Best Compatible Wallets
NEAR Wallet is a non-custodial web wallet for the NEAR blockchain where users can send and receive NEAR or NEP-141 tokens. On the other hand, It is a simple and user-friendly wallet that allows users to manage, store and stake NEAR. The wallet is an in-browser and web wallet that users can use to create a NEAR wallet.
The NEAR ecosystem empowers communities by providing staking opportunities. By providing seamless interaction with the NEAR blockchain across multiple wallets including NEAR Mobile wallet, Meteor Wallet, Nightly Wallet, Ledger live, Omni Wallet, Opto Wallet, Sender Mobile Wallet. Not only that, it also offers an accessible path for community engagement.
Conclusion
The NEAR ecosystem offers a wide selection of wallets, allowing users to easily create and manage NEAR accounts. It serves as a secure store for NEAR tokens and allows staking to earn rewards. NEAR staking offers an efficient method of generating income from your tokens on the blockchain. In addition, it plays an important role in supporting the operation of Proof-of-Stake (PoS) networks.
