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Chainlink Announces a Staking Feature

ByLouis Adams

Jun 8, 2022 #Blockchain
Reading time: < 1 minute

The developers of the decentralized oracle network Chainlink have announced the introduction of the LINK token staking mechanism in the second half of the year.

According to them, the move will improve the security of the ecosystem as it scales.

The post reads:

“As Chainlink is constantly integrating into new blockchains and including support for new oracle-based services, it is important to increase the level of network security to keep up with the growing amount of value in applications. Staking is a key mechanism that will bring a new level of crypto-economic security to Chainlink, where rewards and penalties incentivize the network to function properly.”

In total, there are two versions of the mechanism. The release of the first is scheduled for the end of the year. At launch, it will consist of reputation systems and notifications for staking participants. In the future, the team will enable additional features like slashing.