Binance US introduced staking rewards for Cosmos and Algorand with more tokens down the road
The U.S cryptocurrency trading platform of the world’s largest cryptocurrency exchange Binance will launch a staking reward in February. Staking rewards will be offered to Algorand and Cosmos starting next month, according to an announcement published by Binance US on January 29.
— Binance.US (@BinanceAmerica) January 29, 2020
Moreover, the exchange has also announced that more Proof of Stake (PoS) coins available for listing and staking down the road. Easy, secure staking allows many people to earn rewards for contributing to the network by promoting cybersecurity, reduce authentication costs, and simplify consensus mechanisms. It will be available in all current states where Binance.US operates.
The announcement follows the launch of a dedicated staking platform in late September 2019. Staking is a possible activity on PoS-based blockchains that allow network nodes to authenticate blocks by holding cryptocurrencies as collateral. Users keep money in a digital wallet to support the operations of the blockchain network, and in exchange, they receive rewards in that selected coin (in this case, ALGO and ATOM).
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