A Brief Recap of the AMA Session with Temple Wallet and Everstake

A Brief Recap of the AMA Session with Temple Wallet and Everstake

Yesterday we held an AMA session with Temple Wallet and the staking platform Everstake. A surprising fact: Twitter's automatic captioning believes XTZ is in fact “ecstasy."

This is a brief recap of the most interesting things during the AMA: the partnership details, specific features of staking, and the 750 XTZ raffle. If you’re a fan of listening, though, check out the AMA’s record on Tezos Ukraine’s Twitter.

The Raffle’s Terms

To participate, you must delegate 100 XTZ or more to Everstake between August 22 and September 20, and not withdraw your stake for at least 37 days. If you’ve already delegated funds to them, you can re-delegate. This is to keep track of participants’ wallet addresses.

On October 27, Everstake will randomly select six winners: five of them will receive 50 XTZ each, and one lucky winner will get 500 XTZ.

WhoAre Degens?

The word “degen” does not mean what you think it means. It means “decentralized generation.”

What About the Partnership Between Everstake and Temple Wallet?

Everstake is one of the most trusted decentralized stacking providers in the blockchain industry. Vlad of Temple Wallet believes that the partnership will help draw more attention to staking Tezos, and subsequently to its unique features like liquidity staking.

What’s So Cool for Everstake in Tezos

Alina is a segment lead at Everstake. At work and beyond, she follows many blockchains, including Tezos. What she likes in Tezos is that it’s really evolving:

“I know of many networks that haven’t evolved in any way, haven’t improved the features of the protocol, and haven’t changed since launch. They’ll stay in business until people notice evolving blockchains such as Tezos.

“I like how smoothly Tezos transitions from one version of the protocol to another, and that the updates are not for beauty, but for real benefit.

“Tezos has a lot of NFT projects, and I’ve even put together a small collection. It’s good that Tezos is closely connected to digital art. I think at some point traditional art will have to go digital, and Tezos is ready for that.”

Alina also believes that NFTs interested even the people unfamiliar with blockchain technology.

The Difference Between PoS, DPoS and LPoS

The main idea behind staking is that participants block tokens and the protocol regularly lets the owner of a random stake (tokens) validate a block. The problem with staking is that the rich get richer.

In 2014, the Delegated Proof of Stake consensus algorithm appeared. In protocols with DPoS, democracy works: users send validators their coins, meaning they give them a better chance of mining the next block.

Tezos uses Liquid Proof of Stake: users essentially delegate their own addresses rather than coins. It is not possible to divide funds between delegates: either delegate all XTZ on the address or nothing. But this limitation can be circumvented through multiple accounts. Delegation strengthens decentralization and network security.

Why Stake During a Bear Market?

When delegating, the user controls his or her funds but has no control over the potential profit, i.e. the reward paid by the baker. Delegation is a safe way to accumulate XTZ, prepare for a bull market, and support the ecosystem.

Subscribe and never miss updates from the world of Tezos:

  1. Telegram channel
  2. Facebook
  3. Twitter in Russian and Ukrainian
  4. Twitter in English
  5. YouTube channel
  6. Instagram
  7. LinkedIn
  8. hub at ForkLog

next

Emergents Reviewed: The Best Trading Card Game on Tezos

Read similar posts

Plenty Community Call #13: Discussing the Security of Tezos, Naan, and Liquidity

Plenty Community Call #13: Discussing the Security of Tezos, Naan, and Liquidity

DeFi on Tezos: Where the Risks Are the Lowest

DeFi on Tezos: Where the Risks Are the Lowest

The History of Teia.art: A Marketplace Salvaged by the Community

The History of Teia.art: A Marketplace Salvaged by the Community

Read our blog and never miss news about TezosRead Blog

Community