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| {{:Box-round|title=Quick Take - Staking| | | {{:Box-round|title=Quick Take - Reputation| |
| <big>Staking within the Chainlink ecosystem is a mechanism that gives ecosystem participants, including node operators and community members, the ability to increase the security guarantees and user assurances of oracle services by backing them with staked LINK tokens.</big> | | <big>EXPLAINER GOES HERE.</big> |
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| __TOC__ | | __TOC__ |
| <h2>In depth</h2> | | <h2>In depth</h2> |
| '''REVIEW'''
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| The evolution of staking.
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| Owners would offer their coins as collateral for the chance to validate blocks, and they would be rewarded for doing so. Staking, therefore, rewarded users risking collateral and doing work: participating in functions necessary to the continued operation of a network or a protocol. <ref name="Cobie">https://cobie.substack.com/p/apecoin-and-the-death-of-staking?s=r</ref>
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| Over time, the word ‘staking’ has been repurposed and redefined. Instead of receiving rewards for contributing to chain security with collateral at stake, modern “staking” just seems to mean "we give you more coins as a reward if you don’t sell your current coins".<ref name="Cobie" />
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| Staking mechanisms should be designed to support the goals of the ecosystem. They should be used to incentivise the parts of a product, community or network that requires people to do work or to take risk. <ref name="Cobie" />
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| '''REVIEW'''
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| Staking is a mechanism that can empower oracle networks to provide greater security guarantees and capture more fee opportunities.
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| Staking not only introduces an incentive to provide reliable data, but it allows for a penalty mechanism for underperforming nodes who fail to achieve the goal of consistently generating accurate oracle reports and delivering them to specific destinations in a timely manner.
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| Nodes are rewarded for honest work and punished for malicious activity directly or indirectly.
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| <ref>https://blog.chain.link/blockchains-oracles-similarities-differences-synergies/</ref>
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| <h2>Timeline</h2> | | <h2>Timeline</h2> |
| * '''07 Jun 22.''' Chainlink release the article entitled "Chainlink [[Staking|Staking]]: Exploring the Long-Term Goals, Roadmap, and Initial Implementation." Read the full article [https://blog.chain.link/chainlink-staking-roadmap/ HERE].
| | {{:reputation_resources}} |
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| * '''02 Jan 22.''' In his speech entitled "The Future of Chainlink", [[Sergey Nazarov]] (Co founder of Chainlink) announced that 2022 will see the launch of [[CCIP]] and the implementation of [[staking]]. View the entire video [https://www.youtube.com/watch?v=YShbzR7mlog HERE]. Time stamp 58min.
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| {{:staking_resources}} | |
| <references /> | | <references /> |
