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Understanding Polygon Staking
What is Staking?
Staking is the process of participating in transaction validation on a proof-of-stake (PoS) blockchain. Participants, also known as validators, lock up a certain amount of cryptocurrency as collateral to validate transactions and add them to the blockchain.
How Does Staking Work on Polygon?
Polygon utilizes a PoS consensus mechanism, where users can stake their MATIC tokens to support the network. In return, participants receive rewards in the form of MATIC tokens. This process enhances network security and efficiency.