Cross Staking – the future of mining is already today
Today, staking is perhaps the most popular way to make money on cryptocurrency. The only drawback is the size of the reward. Most believe it depends on the platform and tokens chosen for staking. However, the real reason lies in technology. But what if we take all the best from the mining methods available today and bring them into one powerful tool? This is exactly what Cross Staking has become. A technology that allowed secondary blockchains (so-called sidechains) to be scaled to public chains.
What is the result? Profitable mining of Bitcoin and other coins mined by the Proof-of-Work method (PoW). Confirmation of blocks at a new speed.
Improved security model. Finally,”green”, energy efficient protocol. The most important component of ecology. Fiction? Not at all. All this is a breakthrough technology created and supported by the developers of Matrix Network. And its name is Cross Staking.
What is Cross Staking?
This is a staking technology that allows staking providers to earn money by staking PoW tokens. Providers, having the ability to freeze them in the main chain, activate tokens in an additional, one might say parallel (sidechain). This is where staking happens. Moreover, owners of cryptocurrency assets get the right to delegate PoW coins and generate higher profits compared to classic staking.
Can’t wait to try? Pay attention to Prime Stake or Oreol Stake – these providers are already working with this amazing technology.
However, no matter how breakthrough the Cross Staking technology is considered, it is a natural and natural development of the cryptocurrency industry. From the very first transactions, the crypto world was puzzled by their speed and security. More than five years have passed since the first information about Cross Staking technology. During this time, Matrix Network specialists have worked hard on their project in order to proudly announce the agreements reached with well-known staking providers today.
Why is Cross Staking so good?
First of all, this is the benefit from mining the usual tokens that are mined by PoW. In other words, you no longer need to purchase expensive equipment, after which you also have to pay a round bill for electricity.
Secondly, it’s speed. Yes, of course – transactions between cryptocurrency holders are safe, anonymous and reliable. But, perhaps, most users have already come to terms with the low speed – both for conducting transactions and receiving rewards. But the Cross Staking technology returns hope for a bright, and most importantly, for a fast future. From a technical point of view, the parallel blockchain (Sidechain) does not participate in the formation of blocks. Moreover, Cross Staking does not waste time locking and unlocking tokens. All this increases the speed by at least 2.5 times, and the real income growth of token holders by 2-3 times, when compared with alternative options.
Cross Staking technology is also interesting for its increased security and high degree of funds protection. It is worth noting that PoW miners are in constant competition with each other. Often, this competition escalates to cyberattacks, and the network becomes vulnerable. Using an additional, “side” blockchain, Cross Staking exposes additional protection. Roughly speaking, in order to hack the main network, you first need to deal with Sidechain, or rather with the so-called “notary nodes”, which add information to the second blockchain from the first.
Finally, Cross Staking is the epitome of versatility. As a layer 2 protocol, it can be applied to any PoW network. To date, Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Tether (USDT), BNB (BNB) and a dozen other popular cryptocurrency networks have already been connected. In any case, technology can only be useful if it is widely adopted.
Cross Staking – more than just staking
Of course, the very idea of cryptocurrency carries the need to obtain benefits. But it’s scary to think at what cost this benefit is achieved today: the Bitcoin network alone is responsible for 0.5% of the world’s energy consumption! The conclusion suggests itself: the existence of many cryptocurrency networks causes irreparable damage to the environment. There is a wild overexpenditure of resources and the release of a large amount of carbon dioxide.
In the spring of 2021, Elon Musk even rejected the previously liked idea of accepting Bitcoin as a means of payment. The reason Musk cited was down to the ever-increasing pollution of the environment due to mining.
Cross Staking is exactly the technology whose global goal is to help the entire cryptocurrency industry reduce its impact on the environment. Find an eco-friendly way of functioning and self-development. And, apparently, representatives of the Matrix Network are already able to do this. Minimal use of energy resources, high performance and safety. Keep it up!