🀝Staking $BADGE

The BitBadges blockchain is a delegated proof-of-stake blockchain. Delegated Proof of Stake (DPoS) is a blockchain consensus mechanism where token holders elect a small group of trusted members (validators) to validate transactions and maintain the network. These validators stake their own $BADGE and earn additional $BADGE from maintaining the network.

The delegated part is because token holders can delegate their stake ($BADGE) to validators and split the earned $BADGE, according to their delegation and commission charged by the validator. This enables token holders to contribute to the security of the network without running their own validator.

Option 1: Delegate

For most users, delegating is the preferred option. You can delegate your $BADGE to an existing validator to be staked. This validator will split the $BADGE earned from securing the network with you (they may charge a commission).

How to Delegate?

Visit https://bitbadges.io/stake. Behind the scenes, this uses the Cosmos SDK staking module.

Option 2: Become a Validator

If you want to become a validator and stake directly by running a validator node, see here.

Governance

Initially, we do not plan to use a governance structure to allow us to ship fast and build a great prduct. Over time as we shift to becoming more decentralized, we will allow token holders of $BADGE to propose and vote on governance proposals, weighted via their amount of $BADGE. This will be via the Cosmos SDK governance module. These governance proposals will allow $BADGE holders to decide on the future of BitBadges.

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