Ledger is a cryptocurrency wallet that stores user’s private keys in a secure hardware device. Known for a more secured cryptocurrency wallet, Ledger provides users with Ledger Nano S and Ledger Nano X, with Nano X versions enabling Bluetooth connection for users’ easy use.
Recently, it is reported that the firm has added a new service to its Ledger Live platform, enabling users to earn staking rewards directly to their wallet. Ledger Live is a digital platform backed up by hardware wallet that offers users more control over staking, and let users select from a wide list of validators based on preferences.
In the crypto community, staking is from a user perspective, like being paid interest for holding a coin. In other words, users that keep a certain amount of coins locked up for a certain length of time and will earn newly minted coins by staking. The reward received by staking varies depending on the coins.
In exchange, the whole process helps run a Proof-of-Stake (PoS) blockchain network. Reportedly, a cryptocurrency added as the first coin for the service is Tezos. Notably, Tezos is the cryptocurrency that runs of PoS that is focused on bringing governance to the blockchain.
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Nurul is an English Language graduate who is highly passionate on writing, she literally breathes on it. An avid reader and a critical thinker, she covers on blockchain news during day and weeps at sad novels at night.