{"id":3611,"date":"2020-08-31T04:35:59","date_gmt":"2020-08-31T02:35:59","guid":{"rendered":"https:\/\/holytransaction.com\/blog\/?p=3611"},"modified":"2023-01-10T01:49:27","modified_gmt":"2023-01-09T23:49:27","slug":"staking-blk-blackcoin-on-holytransaction-wallet","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2020\/08\/staking-blk-blackcoin-on-holytransaction-wallet.html","title":{"rendered":"Staking BLK: Staking Blackcoin on HolyTransaction Wallet"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-3613\" src=\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2020\/08\/blackcoin-staking-holytransaction.png\" alt=\"blackcoin blk staking holytransaction wallet\" width=\"1024\" height=\"512\" \/><\/p>\n<h1><span style=\"font-family: Calibri Light, sans-serif;\"><span style=\"font-size: xx-large;\">Staking Coins: Staking Blackcoin<\/span><\/span><\/h1>\n<h4>Introduction<\/h4>\n<p>Blackcoin is a proof of stake-based coin. Blackcoin actually started out in life as a proof of work cryptocurrency but became a proof of stake coin after the 10,000<sup>th<\/sup> block was mined. Blackcoin claims in its whitepaper that it was the first cryptocurrency to use a pure proof-of-stake-based protocol on Bitcoin code. Blackcoin provides many of the same features as other cryptocurrencies, including decentralization and a high degree of transparency. It also offers great opportunities for passive income for staking your coins.<\/p>\n<h3>Stake Blackcoin on HolyTransaction Wallet<\/h3>\n<p>HolyTransaction Wallet is excited to present to you the launch of our <strong>new staking service<\/strong>. You can now leverage Proof of Stake (POS) holdings to safeguard crypto networks while earning financial rewards.\u00a0<strong>Staking BLK<\/strong> has become much easier with <a href=\"https:\/\/holytransaction.com\">HolyTransaction<\/a>!<\/p>\n<h3>How to Stake Blackcoin<\/h3>\n<p>The process of staking is initiated by not moving your BLK for at least a period of 8 hours while keeping your node syncronized with the <a href=\"https:\/\/flyp.me\/en\/top-cryptocurrencies\/what-is-blackcoin\/\">Blackcoin<\/a> network. Your earnings are proportional to the number of coins that you have\u2014the more coins you have, the more you earn. The amount of time you keep your wallet open for staking also has an effect on your block rewards.<\/p>\n<h3>Risks and Benefits of Staking Blackcoin<\/h3>\n<p>Blackcoin has improved its block time from 60 to 64 seconds. <a href=\"https:\/\/holytransaction.com\/page\/what-is-blackcoin\">Blackcoin<\/a> had previously used the scrypt protocol for its hashing algorithm, but this was changed to SHA256d. Blackcoin\u2019s reliance on proof of stake gives it an edge in performance over many proof of work cryptocurrencies. When it comes to retail applications, where transactions cannot take an hour to fully confirm as with Bitcoin, <a href=\"https:\/\/holytransaction.com\/blog\/2014\/08\/network-security-and-proof-of-work.html\">proof of stake<\/a> cryptocurrencies like <a href=\"https:\/\/holytransaction.com\/page\/%D1%81reate-Blackcoin-wallet-online-register-free-best-exchange-multicurrency-Bitcoin\">Blackcoin<\/a> are better suited for this role.<\/p>\n<h4>Conclusion<\/h4>\n<p>Staking your Blackcoin will earn you a reward of between 1% and 8% of the total amount of coins held in your wallet for one year. You just need to deposit BLK in your <a href=\"https:\/\/holytransaction.com\/app#!\/signin\">HolyTransaction account<\/a>. Wait for 24h to start staking Blackcoin and visit <a href=\"https:\/\/holytransaction.com\/app#!\/history\/distributions\">History -&gt; Distributions<\/a> to see your POS rewards.<\/p>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Staking Coins: Staking Blackcoin Introduction Blackcoin is a proof of stake-based coin. Blackcoin actually started out in life as a proof of work cryptocurrency but became a proof of stake coin after the 10,000th block was mined. Blackcoin claims in its whitepaper that it was the first cryptocurrency to use a pure proof-of-stake-based protocol on [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":3613,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[98,191,334,1471,1473,1472,674],"tags":[789,1372,1474,1327],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.6 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Staking BLK: Staking Blackcoin on HolyTransaction Wallet -<\/title>\n<meta name=\"description\" content=\"Staking Blackcoin (BLK) is now easier with HolyTransaction! 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