Bibox, a crypto exchange company, announced it has successfully integrated staking support, and will provide users a “one-click” staking service without any additional fee.
COSMOS ATOM token will is the first project included in the staking service. In the near future, the exchange plans to offer more top PoS-based crypto assets.
Bibox partners with EON to launch staking service
Bibox partnered with EON, a San Francisco-based staking infrastructure platform for the integration.
Benefits and Advantages of Staking
- The users with enough number of coins or tokens in their holdings can validate more transactions on the network.
- The menace of a 51% attack is substantially minimized due to improved decentralization in a staking coins system.
- Proof of Staking is also better from the environmental perspective and promotes better energy efficient than PoW mining.
“We are excited to partner with Bibox and offer staking to their customers with a click of a button. Staking is an incredibly important part of the PoS ecosystem. Bibox has taken a big step forward by making staking readily accessible to their large user base and, in turn, facilitating user participation in networks.”
– Santiago Roel, co-founder of EON
Staking on Bibox
Staking is the process where token holders can participate in the validation process and earn staking rewards. A Proof of Stake (PoS) network offers built-in inflation where staking rewards are issued to holders as an incentive to validate and secure the network.
“Compared with PoW (Proof of Work), PoS is a more effective consensus mechanism. It solves high energy consumption, low throughput, and low-security problems. It has become an irreversible trend. Bibox has always been at the forefront of the development of the blockchain industry. By launching staking service, Bibox aims to meet the diversified needs of Bibox community users and support the development of PoS.”
– Kevin Ma, co-founder of Bibox