Staking Islamic Coin

Staking is a way of earning rewards for holding cryptocurrency. Your crypto earns rewards because it is put to work on the blockchain. Islamic Coin uses a “consensus mechanism” called Proof-of-Stake, which is the way they ensure that all transactions are verified and secured without the middleman, usually a bank. Your Islamic Coin digital money, if you choose to stake it, becomes part of that process and you earn rewards as a result. ISLM holders can participate in the network consensus and secure the Haqq Blockchain network. By doing so, ISLM holders are delegating voting power to Validators who are doing the work of maintaining the decentralized network. Holders that delegate their coins to Validators earn staking rewards. Rewards are coming from transaction fees and newly minted ISLM. Delegators should be aware that staking carries a risk. If the Validator underperforms or goes offline, the Delegators’ rewards can be slashed resulting in a reduced amount of ISLM rewarded. It is recommended that ISLM holders delegate to multiple Validators and choose them carefully.

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