Aion, the blockchain network for decentralized applications, announced today that a new AION staking interface app is now live in preparation for its upcoming Unity update.
Last week, the Aion team introduced its evolution into The Open Application Network (OAN), a public infrastructure that creates a new design space for what they call, Open Applications (OAs). Open Apps are programs that put users back in control and are universally accessible across platforms.
The introduction of Unity changes the underlying security model and the structure of block production on The Open Application Network.
Unity is an eventual consistency protocol merging the Proof of Work (PoW) and Proof of Stake (PoS) into a coherent stochastic process. It encompasses hardware and economic security without sacrificing availability, unpredictability, and decentralization.
Starting now, Aion token holders can select and stake their AION with the available staking pools on the interface. Over the coming week, new staking pools will be onboarding leading up to the Unity upgrade on November 19th-20th.
Once the Unity upgrade has taken place, the production of PoS blocks will begin. The new Aion staking platform is designed to be a one-stop-shop for all staking services for The OAN.
The staking interface enables users to access their account through Ledger, key-store, private key, and mnemonic phrase. The desktop application is available on Windows, Mac, and Linux for key-store, private key, and mnemonic phrase.
- Delegation: Coin holders can delegate AION to a staking pool that runs node infrastructure on the network. When the staking pool that coins have been delegated to produces a block on the network, a share of the rewards are earned.
- Un-Delegation: Coin holders can un-delegate their stake at any point in time. There is a lock-up period of approximately 24 hours (based on block times) after which the stake is transferred to the staking account.
- Withdrawal: Rewards are distributed for successful block production among delegators of a stake. A coin-holder can withdraw these rewards anytime instantly to their account.