How to Stake AVAX via Delegation | Avalanche Tutorials
In this tutorial, we show how to stake AVAX by delegating to a validator.
The Avalanche platform uses a proof-of-stake consensus algorithm rather than the older proof-of-work protocol. The proof-of-stake (PoS) algorithm comes with a number of advantages that the proof-of-work (PoW) consensus mechanism cannot match.
PoS—which was introduced in 2012—is faster and far more energy-efficient than its predecessor. While PoW consensus requires a large expenditure in computational resources, PoS is not really dependent on energy consumption. Instead, PoS validation involves selecting a validator on a somewhat random basis from a pool of participants who have invested their cryptocurrency on a particular validator.
PoS validation also has the effect of incentivizing participants to ensure the security of the blockchain, as fraudulent transactions will penalize them. Finally, PoS validation is more decentralized than PoW methods, which allows for more entities to participate in the process.
With Avalanche’s PoS platform, there is no limit to the number of validators that can contribute to the block-producing process. Validation is also reasonably simple. Becoming an Avalanche validator does not require a large investment of time to set up operations—even basic tech hardware is suitable for this purpose. Ongoing maintenance can be easily managed as well.
Your AVAX tokens can play a vitally important role in the governance of the Avalanche network, and you can earn staking rewards (which are shared with the validator) as you do. As it happens, staking AVAX is easy. You can select a validator by specifying their node ID, the start/stop times for delegating the stake, the number of tokens you are staking, and the address for your AVAX staking rewards.
The process goes like this:
1. Open your Avalanche wallet (https://wallet.avax.network/)
2. Click the Earn tab
3. In the Delegate box, press the Add Delegator button
4. Select the node to which you want to delegate
5. Enter your end date, your staking amount, and your reward address
6. Press the Confirm button
Click on the video to view the step-by-step process for delegating to a validator via AVAX.
Learning how to stake on Avalanche can markedly improve your yield and enhance your ability to participate in the security of the Avalanche platform. As a fast, environmentally friendly smart contracts platform for decentralized applications, Avalanche has the tools you need to build Solidity-compatible dapps, launch customized blockchains, and gain access to literally thousands of validators with minimal investment in hardware.
Feel free to explore the website at https://avax.network to learn more about the benefits of Avalanche. Current users of Avalanche include many DeFi professionals, digital art collectors, private enterprises, and government agencies around the globe. The fast-growing Avalanche community already supports more than fifteen languages.
Note: On mainnet, there is a 25 AVAX minimum in order to delegate.
Avalanche Wallet: https://wallet.avax.network
Avascan: https://avascan.info/
Avalanche Resources:
Website: https://avax.network
Twitter: / avalancheavax
Discord: https://chat.avax.network
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