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Staking is a way to take part in a blockchain's operation that relies on the Proof-of-Stake (proof of stake) mechanism. Instead of spending electricity on computations, as in Proof-of-Work, the network selects validators in proportion to the amount of tokens locked in their favor. Validators confirm blocks and receive newly issued tokens and transaction fees.

## How it works

The token holder transfers tokens to the network's smart contract or to an intermediary platform and chooses a validator or pool. The funds are not sold, but part of them is locked for a period of time. Rewards are paid according to the protocol's rules and depend on network inflation, the number of participants, and fees. Exiting staking often requires a separate unbonding period, during which the tokens cannot be transferred or sold.

## Where it is used

Staking is used on Ethereum, Cardano, Solana, and many other Proof-of-Stake networks, as well as in DeFi protocols and on centralized exchanges that offer staking products. Formally these are different models: in the first case the user participates in the network directly, while in the second they trust an intermediary that manages the validators.

## What it affects

The main factors are the lock-up period and exit conditions, the risk of the token's price falling during the lock-up, the risk of penalties (slashing) for validator errors or downtime, and the risk associated with the intermediary holding the keys. Token-denominated yield is not the same as yield in fiat currency, so it must be recalculated at the current exchange rate.

## Common mistakes

A common mistake is treating the nominal rate as guaranteed income. Rewards depend on the protocol and can decrease. A second mistake is failing to check who holds the keys and whether the intermediary can suspend withdrawals. A third is ignoring fees and tax obligations in the user's jurisdiction.