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Mining is known to some people, but few have heard of "coin staking".
You might think staking is a less resource-intensive alternative to mining. Credit is kept in a wallet for cryptocurrencies to support the security and operation of a blockchain network. Simply put, staking means holding back cryptocurrencies in order to receive rewards, and in most cases you can stake your coins directly into your crypto wallet, such as the Schilling wallet. On the other hand, many exchanges offer staking services to their users.
To better understand what staking is, you first need to understand how Proof of Stake (PoS) works. PoS is a consensus mechanism that allows blockchains to be more energy efficient while maintaining (at least in theory) a reasonable degree of decentralization. Let's dive into what PoS is and how staking works.