☄️Staking

BrightyPad tokens will automatically enable the holder to actively participate in transaction validation (like mining) on a proof-of-stake (PoS) blockchain, the minimum balance for the holder to passively stake is 500 BrightyPad tokens. This feature will be available when we release the mainnet.

How does Proof of Stake work?

Proof of Stake works much different than previous proof of work chains BrightyPad will launch a blockchain in the future and use BrightyPad tokens as means of running a node, meaning the more tokens you have the more you can mine using our blockchain. This will use considerably less power than traditional choices and significantly add more value to our project in the long term. If the node successfully creates a block, the validator receives a reward, like how a miner is rewarded in proof-of-work chains.

Validators will lose part of their stake if they double-sign or attempt to attack the network. Rewards are calculated based on the amount of the cryptocurrency you hold in that wallet, the more you hold, the more BrightyPad can stake on your behalf and the more rewards you will receive. The more blocks being created on the block chain the more rewards you will receive.