Nexus is a cryptocurrency that is somewhat different from the usual bitcoin. The purpose of creating this cryptocurrency was to launch a decentralized network in which users could make secure payments and other financial transactions without fear of supervision of the authorities.
Staking is an energy efficient form of mining that provides security to the Nexus Blockchain. NXS can only be staked inside the official Nexus Wallet when staking is enabled, and with a continuous Internet connection (24 hours a day, 7 days a week). This ownership represents a 'stake' in the sense of an interest in something. Staking provides security to the network, by which you can earn a Stake Rate which ranges between 0.5% - 3.0% per year on your staked NXS holdings.
Nexus provides desktop wallets for windows, mac and Linux. The mobile wallet (lite node only) is currently in public beta and will be released in Q1 of 2021. As of today, Nexus only supports full-node staking, although the next major upgrade will also include pooled staking using a lite node with a minimum balance of 1 NXS.
It is possible to stake with any amount of NXS at a rate of 0.5%. However, as of the 3rd March 2020 it takes around 10,000 NXS to be able to reach the maximum stake rate of 3.0%.
Yes. Staking is an energy efficient form of mining that provides security to the Nexus Blockchain. NXS can only be staked inside the official Nexus Wallet when in ‘staking mode’ and with a continuous internet connection (24 hours a day, 7 days a week). This ownership represents a ‘stake’ in the sense of an interest in something.In return, ‘stakers’ are rewarded for providing security to the network, and can earn a ‘stake rate’ of between 0.5% and 3.0% per year on their NXS holdings.
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