Coins, tokens, and data security have found new demand

The rapid growth of the cryptocurrency market entails the emergence and development of various technologies, including the security of personal data, financial transactions, and protection against currency fluctuations in the virtual world. One of the latest technologies that ensure the security of working with cryptocurrency is Chainlink Staking. The processes associated with it are categorized under Chainlink Economy 2.0. This is a novelty in the industry of Oracle projects, based on staking. It is presented to users in Jun. 2022 and is undergoing a testing phase. The launch is planned for the second half of the year.The mechanism of action of the Chainlink system is based on the control of earnings and penalties of ecosystem participants through the LINK token. For example, if there is a violation of rules or obligations, tokens are blocked or redistributed, which limits the possibilities and connects of their owners. Taking into account the increased security of the system, it is expected to increase the income of participants in the long term in different ways, including mining and building a multi-chain economy of smart contracts. Also, the LINK token is used for LINK staking by new participants, which will lead to an increase in the number of participants and the pool of ecosystem tokens.One of the key advantages of the Chainlink Staking system is the opportunity for reward growth and expansion of the rewarded participants pool due to the following factors:

• growth of payment for service;
• improving the reputation of nodes.

This kind of partnership program will allow you to raise interested stakeholders and provide win-win conditions for cooperation and a rewards plan.

Proposed staking scheme

The input pool of tokens will be limited to 25 million. As it reaches 75 million, the pool will gradually scale up and open up opportunities for the entry of new participants and Oracle services. At the initial stage, all the benefits of the system will be given to experienced participants and a proven reputation. The initial rewards will not exceed 5%.The details of the ecosystem’s development planned stages are presented in more detail in Table 1.

Opportunities for investors

After the announcement of the Chainlink Staking development scheme in the news in Jul., the price of the LINK token increased by more than 16 percent. This gave some hope to those who believe in the ecosystem and plan investments with an emphasis on the long term. The network provides a good opportunity for investors to securely purchase cryptocurrency by visiting the blockchain portal. This platform allows you to freely carry out transactions with cryptocurrency.For those who are actively interested in cryptocurrency price forecasts, we also recommend visiting coinmarketcap. This website allows you to track the prices of crypto assets and stay up to date with the latest changes. This includes:

• mining of crypto-currencies;
• building a multi-chain economy of smart contracts.

Another great option is CoinFLEX because it’s one of the most promising projects for investors. The platform allows you to easily carry out transactions of cryptocurrency.Another popular platform is coinmetro. The platform specializes in the transactions of cryptocurrencies with the possibility of investment. A built-in analytical system and convenient functionality are available. You can easily purchase bitcoin or its improved version — altcoin. It is also possible to use the litecoin payment system. In order to earn bitcoin, you should enter “earn bitcoin” in the search line, and access to websites for earning bitcoin will automatically open. It is also possible to explore the rating of the best bitcoin ATMs. To do this, enter “operators” in the search bar.

Conclusion

While the initial intention behind the creation of the Chainlink ecosystem was to provide maximum possible security for participants’ data and coins, the news about their plans also provides additional perspectives, namely expanding the user base and increasing revenues through token transactions.However, at the moment, you should not indulge in euphoria. Because the less we know, the more staked our assets are. It is better to focus and keep tracking in order to take all benefits from the recent offers of the crypto market. As with any brand-new project, this one is full of not only opportunities but also risks. So let’s continue to investigate, explore, compare and analyze before do any action. Time will show, and cryptoeconomic will help us to understand the regulation of production and distribution of solutions and services.