Staking has emerged as one of the most popular ways to earn passive income in the cryptocurrency space. In this guide, we’ll walk you through the process of staking CORE using the popular MetaMask wallet. As a CORE token holder, you can participate in securing the network and earn rewards by staking your tokens. Read on!
What is CORE?
CoreDAO is a revolutionary blockchain that combines the strengths of Bitcoin and Ethereum to create a powerful and versatile platform for decentralized applications. Powered by a new consensus mechanism called Satoshi Plus, CoreDAO is a Turing-complete blockchain that leverages the mining power of Bitcoin and the Ethereum Virtual Machine (EVM) to provide a highly secure and scalable infrastructure.
Satoshi Plus applies a protocol-driven validator election mechanism that combines the best features of Proof-of-Work (PoW) and Delegated Proof-of-Stake (DPoS) to ensure optimal security, scalability, and decentralization. This means that users can stake their CORE tokens (as well as hash rate).
What is MetaMask?
MetaMask is a popular cryptocurrency wallet and browser extension that allows users to securely store, manage, and use Ethereum-based assets and other digital tokens.
As CoreDAO’s protocol is based on the Ethereum Virtual Machine (EVM), using MetaMask as a wallet and browser extension would be an excellent approach to interacting with the CoreDAO network.
How to add CORE to MetaMask?
For adding the Core network to MetaMask via the Core Explorer:
1. Go to CoreScan and scroll down the page.
2. Click the Add Core Network button
3. Approve in your MetaMask.
Why stake CORE?
Earning rewards: users stake their CORE tokens for validators who participate in consensus, secure the network, and process transactions. In return for staking their tokens, users receive a portion of the validator’s profits in the form of additional CORE tokens.
Support the network: By staking CORE, you can help secure the CoreDAO network and contribute to its decentralization. As more users stake their tokens, the network becomes more resilient against attacks.
How to stake CORE?
Core blockchain, as part of the Satoshi Plus consensus, utilizes a Delegated Proof of Stake (dPoS) algorithm. To delegate your CORE tokens, you can choose a reputable validator such as Everstake, which uses enterprise-level hardware to run nodes on the CoreDAO network, ensuring high security and reliability. With Everstake, you can benefit from 100% uptime, an active community, and trustworthy service.
Follow these steps to stake your CORE tokens from your MetaMask Wallet:
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Go to the CoreDAO staking page and click Connect Wallet.
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Select MetaMask.
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Pick a Validator from the list. Make sure that their status is “Active.” Click on their name.
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Click Delegate and specify the number of tokens you’d like to stake.
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The MetaMask window will pop up. Confirm the action.
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The staking part is done! Now you can see your staking statistics by clicking the My Staking button.
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If you want to stop staking, just click Undelegate.
Conclusion
Staking your CORE tokens is a great way to earn passive income and support the growth and development of the CoreDAO blockchain network. By participating in staking, you are helping to validate transactions and support the overall security and decentralization of the network.
At Everstake, we employ enterprise-level hardware to run nodes on CoreDAO and ensure high security and reliability. We also have a dedicated customer support team on standby 24/7 to help with any issues that may occur.
Feel free to contact our CoreDAO Blockchain Manager on Twitter for any questions.
