Chainlink launches staking v0.1 to boost security of Oracle Services.

Blockchain oracle, Chainlink has officially launched its staking feature on the platform’s oracle services.

Chainlink stated in a blog post that the new staking function is a vital element of its “Chainlink Economics 2.0” activities, which focus on security and long-term growth.Chainlink Staking’s initial phase is a beta release (referred to as v0.1), which will include a staking pool that supports the ETH/USD Data Feed on the Ethereum mainnet. 

Staking v0.1 is focused on offering decentralized alerting capabilities and boosting crypto economic security. Stakers will be rewarded for assisting in the security of the Data Feed, specifically by engaging in a decentralized alerting system that flags if the Data Feed fails to meet specified continuous performance standards.

The staking pool will start out with a cap of 25 million LINK and 2.5% of the total supply, with future expansion to 75 million LINK planned.

Node Operator Stakers and Community Stakers will be the only categories of stakers in the staking pool at first, with the possibility of future additions. Each node operator actively supporting Chainlink Data Feeds will receive a starting allocation of 50,000 LINK.

According to Chainlink, this launch is the starting point for Chainlink Economics 2.0 and will subsequently be enhanced. Chainlink Staking will continue to develop and provide better security throughout our ecosystem and throughout Web3 as the network continues to grow.

Before now, Chainlink users that wanted rewards in LINK tokens had to set up their own nodes. Chainlink token holders now have an extra method to profit while assisting in boosting the security of the Oracle platform, thanks to the recently introduced staking mechanism. To learn more about how staking v0.1 works, visit the Chainlink launch details

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