Chainlink, a provider of price feeds and other data to blockchains, has introduced staking of its native token LINK to its network to help keep the protocol secure.
Chainlink Staking v0.1 allows people to earn rewards while helping the protocol become more secure. To do this, stakers will have to “commit LINK tokens in smart contracts to back certain performance guarantees around oracle services,” Chainlink said in a blog. This first phase of Chainlink staking will help secure data feeds.
“What staking does is it allows us to scale the system by creating incentives that allow the system to grow,” Chainlink co-founder, Sergey Nazarov said in an interview with CoinDesk.
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