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Top 5 Staking Cryptocurrency Coins for 2020

Top 5 Staking Cryptocurrency Coins for 2020 | Coin Bureau

Welcome to this cryptocurrency staking video posted by Coin Bureau. In this video you learn about 5 of the top staking coins to look out for in 2020. Find below the 5 staking coins mentioned in the video above.

Tezos (XTZ)

Tezos (ticker symbol XTZ) is a relatively new blockchain that uses LPoS consensus which stands for 'liquid proof of stake'. The Tezos blockchain is built from the ground up and is not a fork of an existing blockchain. Tezos supports smart contracts and dapp development.

With Tezos a staker commits token deposits, they then receive rewards for signing and creating blocks. In order to independently stake on the Tezos blockchain, a staker needs to hold at least 8000 XTZ tokens and run a full node.

Synthetix (SNX)

Synthetix is a cryptoasset-backed network. The protocol which uses Ethereum ERC-20 tokens enables synthetic assets that are linked to another asset (examples include fiat currencies, commodities, and also other cryptocurrencies).

As an SNX staker, holders benefit from the inflation that occurs on the protocol. As of now (2020), there is a 1.25% inflation rate on the Synthetix network where SNX holders earn the newly minted tokens.

Algorand (ALGO)

Algorand is a permissionless, Pure POS (proof of stake) protocol with open participation and transaction finality functionality. Algorand users and programmers are able to build layer 1 decentralized applications.

ALGO tokens can be staked. For each block that is minted, all users on Algorand receive a proportion based on their weighted holdings.

Loom Network (LOOM)

Loom allows Ethereum based decentralized applications to run on sidechains. We have all heard Vitalik Buterin talk about the essential need for side chains to help scale blockchains. Loom is able to provide the leverage needed to allow Ethereum to perform at higher levels.

Loom also integrates with Bitcoin, Ethereum, Binance Chain and Tron.

With LOOMs Delegated Proof of Stake (dPoS). You can delegate LOOM tokens in order to earn a portion of the staking returns on the network.

Decred (DCR)

Decred is a hybrid proof-of-stake and proof-of-work blockchain. PoS holders verify and authorize transactions once DCR have been mined by PoW miners.

Decred uses a governance system where PoS holders help decide what changes can be made to the protocol. Voting tickets (locked DCR) which are selected through a randomized lottery system get rewards of 5.8 DCR per block or about 1.16 Decred per ticket holder.

Be sure to visit each of these exciting blockchain projects to learn more about them and see what progress and milestones they have made.

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