How has market trend affected FLOW staking?

    The question is: How has the status of Flow staking changed with the market trend? Flow is one of the networks that used the Proof-of-Staking algorithm. This means that in exchange for staking the native token of its network, i.e. Flow, it can be staked on different platforms to get a reward. On the other hand, FLOW staking will also help to increase the security of the network. In this dashboard, I'm going to focus on the status of FLOW staking. Is the number of stakers in this network increasing? Has the recent bear market affected the staking situation? How has the change of the market trend from bear to bull changed the strategy of stakers? Is the behavior of stakers different in bear and bull markets?

    What is FLOW in crypto?

    Flow is a blockchain platform that originally was designed for gaming purposes, but has expanded since its launch in 2020. The flow blockchain enables fast, low-cost transactions and supports smart contracts. It powers blockchain applications including NBA Top Shot, a non-fungible token (NFT) offering.  FLOW token is the native currency for the network. All applications and network transactions in the blockchain will require the FLOW currency. The token is also used by validators, developers, and users to participate in the FLOW network and earn rewards. Link

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    What Is Staking?

    Staking is when you lock crypto assets for a set period of time to help support the operation of a blockchain. In return for staking your crypto, you earn more cryptocurrency. Many blockchains use a proof of stake consensus mechanism. Under this system, network participants who want to support the blockchain by validating new transactions and adding new blocks must “stake” set sums of cryptocurrency. Staking helps ensure that only legitimate data and transactions are added to a blockchain. Participants trying to earn a chance to validate new transactions offer to lock up sums of cryptocurrency in staking as a form of insurance.LINK

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    Contact information of the author

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