QuarkChain staking is now possible for token holders and miners that wish to gain some extra income holding QKC while the project continues to develop and grow. QuarkChain took to Medium to announce some of the finer details including the way QKC tokens are mined through the networks PoSW (Proof of Staked Work) algorithm which allows for a more competitive staking method compared to traditional PoS (Proof of Stake) consensus methods that can result in higher chances of centralization and open the network up to vulnerabilities as a result.
QuarkChain has had a resurgence as the Altcoin market shifts from an accumulation phase to an expansion phase with the QKC token increasing roughly 2.2x in USD value since the beginning of 2020 from $0.0028 to $0.0062 at the time of writing. With the recent hype around DeFi projects and the opportunities they present to Investors and even short term Traders, projects such as QuarkChain can benefit from introducing passive income models such as staking as market participants look to park their funds somewhere that will produce a return over weeks or months.
The most important thing to the public chain is the forward-looking layout of specific functions. QuarkChain has realized the value of DeFi and joined in this game from the first day we set off. Now, we are creating future DeFi with the eco-partners from various fields together.QuarkChain – Medium
If you’d like to learn more about how to mine or stake QKC tokens, head over to the official announcement by QuarkChain where they detail exactly how to get started. Staking 2.0 is due to release sometime in Q3 or Q4 of this year so we’re expecting to see a smoother on-boarding experience to come along with that seeing as the current process still involves deploying contracts and some manual efforts to get started.