Takamaka: Staking without Freezing
EPOCH in Takamaka
A single EPOCH has a duration of 8 days and 8 hours and can be divided into SLOTs. Each SLOT has a duration of 30 seconds, within which a block smaller than 10,000 Tx is generated.
These 4 operations have no effect on epoch 13. This is because the evaluation point (indicated by the triangle) of that epoch has already passed.
The first 3 operations will take effect on epoch 14. This is because they occur before the evaluation point of epoch 14 indicated by the green triangle.
The 4th operation is assessed at the evaluation point of epoch 14, red triangle, and becomes effective from epoch 15.
Takamaka blockchain, at 1/3 of each EPOCH, takes a “snapshot” of the TKG token distribution and delegations.
This snapshot is not used to distribute rewards in the current Epoch (E), but is instead used to account for the Stake of the various Wallets and distribute rewards in the next Epoch (E+1).
It is important to note that there is no need for any extra action from the user who stakes his tokens. Each time Takamaka acquires a snapshot, it checks the number of tokens in the wallet associated with that public key that made the transaction, adds them as a stake, and all the funds are delegated to the Node.
Once the snapshot has been taken, the User will always be able to spend the TKGs, or receive more on the staking address. The tokens will never leave the Wallet nor will they ever be blocked. The network still counts for the tokens at stake for the successive EPOCH even if they were to be transferred to another wallet (resulting in no balance) before the end of the current EPOCH.
Hold tokens, earn rewards
Staking allows users to earn rewards from the cryptocurrencies they own. This system also gives the opportunity to become an active member of the Takamaka blockchain.
However, in order to take part in the staking process, users must prove they own at least 200 TKGs to stake on a node at the 8,000th block, corresponding to 1/3 of an EPOCH (evaluation point).
Staking on Mobile
To get started with staking, you have to commit your TKGs on one of the Takamaka Network nodes. Whether you are using the mobile or desktop version, you can select your preferred nodes by clicking on My Wallet. On the next screen, you’ll find a staking icon (top right), from which you can see all the nodes available on the blockchain.
(Highlighted in red: the staking icon)
After clicking on the staking icon, press the “+” button on the top right to view the list of available network nodes.
Can I put at stake something I do not have?
In this case, you can opt for virtual staking. Let’s take a look at how this process works.
Let’s say you own 10,000 TKGs but would like to stake 100,000 TKGs, which you don’t have. You can still participate in staking since Takamaka allows you to “virtually” use tokens you don’t own.
The algorithm knows the balance of each address and therefore knows if a user owns enough funds.
But thanks to the Virtual Staking System, instead of preventing the user from completing the operation, the algorithm allows you to earn rewards over time that will be automatically reinvested in the staking process.
Basically, thanks to the Virtual Staking System, if you have 10,000 actual TKGs you can stake up to 100,000.
The algorithm knows you don’t actually own that amount, therefore it will capitalize the rewards received until it reaches 100,000 TKGs.
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