eToro to Offer Staking for Cardano and Tron

Multi-asset brokerage eToro announced today that it is launching staking services for two popular digital assets, Cardano (ADA) and Tron (TRX).

Staking services allow crypto users to earn rewards, similar to interests, for holding certain digital assets. This concept was introduced with the Proof-of-Stake (PoS) Proof-of-Stake (PoS) Proof-of-stake is a type of consensus algorithm in which a blockchain network aims to achieve distributed consensus. It is also process used to reach an agreement on a single data value. In PoS-based cryptos, the creator of the next block is chosen through various combinations and parameters. In essence, an individual person can mine or validate block transactions based on how many coins he or she holds. Adhering to this concept, the more Bitcoin or altcoin owned by a miner, the greater the mini Proof-of-stake is a type of consensus algorithm in which a blockchain network aims to achieve distributed consensus. It is also process used to reach an agreement on a single data value. In PoS-based cryptos, the creator of the next block is chosen through various combinations and parameters. In essence, an individual person can mine or validate block transactions based on how many coins he or she holds. Adhering to this concept, the more Bitcoin or altcoin owned by a miner, the greater the mini Read this Term) consensus mechanism.

eToro detailed that the rewards will be distributed among the users every month in supported Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term for the previous month’s staking. The brokerage will execute the staking process on behalf of its users and the service will be offered without any additional charges.

“eToro has a large and active crypto community and our goal is to ensure that we are always offering them the very best products and services,” Yoni Assia, eToro’s co-founder and CEO, said. “We are proud to be one of the first regulated platforms to offer a staking service for Cardano and will be further expanding our staking service in the coming months.”

Staking - a Much Sought Service in Crypto

Meanwhile, staking is becoming very popular in the crypto industry, and many major exchanges like Coinbase, Bitfinex, and Binance have also introduced this service for their users.

“We are thrilled that eToro has chosen TRON as one of the first assets to be offered on their new staking service,” Tron’s founder and CEO, Justin Sun added. “As we continue to see diminishing returns from traditional CeFi services, DeFi is continuing to expand. Services such as eToro’s new staking service takes the complexity and confusion out of the staking process, and makes it accessible to everyone.”