🗣️ Staking on DMD Diamond Blockchain — A Route To Sustainable Earnings

In the dynamic realm of blockchain and cryptocurrencies, traditional investors who also double as crypto enthusiasts are looking for alternative ways to increase their income source. Are you in that category? Look no further! That’s what the staking on the DMD diamond blockchain presents you.

DMD diamond coin — a native coin of the DMD diamond blockchain operates on Delegated Proof of Stake Validation Election protocol aside from the main consensus — the HBBFT algorithm. This translates that only holders of DMD diamond coins can stake their coins to validate transactions and secure the network, and in turn, get incentivised. The blockchain presents an ecosystem which is not only eco-friendly but also offers the avenue to create and grow a sustainable crypto portfolio.

Staking on the DMD diamond blockchain refers to locking up a certain amount(s) of DMD diamond coins in your DMD diamond blockchain wallet to support the ecosystem’s operations. In return, you would receive staking rewards in additional DMD diamond coins: the more you stake, the more your earning potential.

Why Should You Stake on DMD Diamond Blockchain?

• Steady Earnings

Staking DMD diamond coins offers you a predictable income. Any DMD diamond coin holder can stake their coins on validators to earn Epoch rewards. The staking would be available and accessible on a web-based decentralised application for anyone with a wallet that supports a custom Ethereum-style network and WalletConnect, such as Metamask, MyEtherWallet and Minerva. Anyone with the DMDv3 version must upgrade to a new wallet and claim DMDv4 diamond coins in a 1:1, and then can easily participate in securing and governing the network.

Epoch rewards for active validators and delegators are divided proportionally by the number of coins staked for that validator. However, the minimum reward to the validator is 30% of the epoch reward. If the validator’s share of the staked coins is less than 30%, the validator gets 30%, and the remaining 70% is shared between the coin holders in proportion to their stakes. However, it should be noted that a minimum of 10,000 DMD diamond coins and a maximum of 50,000 DMD diamond coins can be staked on a validator candidate.

• Environmental Sustainability

DMD Diamond blockchain’s dPoS election validation mechanism is energy-efficient compared to PoW blockchains. Staking in an ecosystem like our blockchain supports an eco-friendly utilisation of blockchain technology. Environmental sustainability is a responsibility of everyone — whether you are a blockchain startup, investor, or adopter.

• Community Participation

DMD diamond blockchain has, over the years, been a community-driven ecosystem. However, staking within the network further encourages active collaboration among the members of the DMD Diamond blockchain community. This affords you a vested interest in the network’s progress, which nurtures a sense of belonging, inclusion and ownership within the community. That would also allow you to vote when governance decisions become practical in the DMDv4.1 version.

• Coin Appreciation

Beyond earning epoch rewards, the DMD Diamond coin has the prospect of price appreciation. By staking your coins, you are not only earning rewards but also contributing to the general scarcity of DMD diamond coins, which can impact its market dynamics, and hence may bring about a rise in value.

Learn more — https://bit.diamonds/blog/