Delegating / Staking on Shibarium - A Step-by-step guide

In the world of blockchain, staking has become a game-changer, altering how networks secure themselves and reach agreements. This article breaks down the roles of validators and delegators and explains how to stake on shibarium.

Validator Stake: A Cornerstone of Validation

Blockchain's core is validation, like a financial audit for transactions. Validators, acting as auditors, validate transactions before they're officially added to the blockchain. But how do validators fund this? This is where validator stake comes in.

Think of validator stake as a deposit that ensures validators do their job. They pledge their tokens, and users delegate their stakes to validators. This delegation gives validators resources to do their validation tasks. Rewards are given at checkpoints, and validators and delegators both get a share. Validators not only validate but also produce blocks, shaping the blockchain's path. This teamwork strengthens the network.

Delegators: Powering Security Through Participation

Validators validate, but delegators also play a key role. Delegators are individuals or groups who lend their voting rights to validators. This empowers validators to validate transactions and secure the network better.

Delegators are like shareholders, using tokens for influence. They pick validators they trust. In return, they get a part of validator rewards. However, rewards come with risks. Delegators and validators both might lose tokens if validators don't follow rules. This partnership ensures network strength and decentralization.

A Step-by-Step Guide to Delegating and Staking on Shibarium

Are you ready to dive into the world of staking on Shibarium? This step-by-step guide will walk you through the process, from connecting your wallet to making informed decisions when choosing a validator.

1. Visit the Shibarium Website

To get started, visit shibarium.shib.io This is where you'll find all the tools and information you need to begin your staking journey.

2. Delegating Bone to a Validator

Remember, the process happens on the Ethereum network, even though you're staking on Shibarium. So, make sure you have your Ethereum wallet, like MetaMask, set up and connected.

3. Explore the List of Validators

On the Shibarium website, look for the option to view all validators: shibarium.shib.io/all-validator Clicking on this will open up a list of available validators. This list will show you key information about each validator, such as their name, staked amount, self-stake, commission, and uptime percentage.

4. Selecting the Right Validator

Currently, there are 12 validators to choose from, and this number will eventually grow. When choosing a validator, focus on two important factors: uptime percentage and commission.

• Uptime Percentage: A higher uptime percentage, close to 100%, indicates that the validator has a strong track record of being online and active.

• Commission: Choose a validator with a low commission. Higher commissions can lead to higher costs for staking your Bone tokens.
  

5. Initiating Your Delegation

Once you've identified a validator that aligns with your preferences, locate the "Delegate" button situated alongside their details. This action triggers a pop-up window to emerge, guiding you to input the quantity of Bone tokens you intend to stake. If you're opting to stake all your Bone tokens, a simple "Max" click suffices to input the maximum value.

Additionally, your present balance will be visible, providing valuable insights to aid your decision-making process regarding the stake amount.

6. Confirming Your Delegation

After inputting the desired staking amount, proceed by clicking "Continue," followed by "Delegate." At this juncture, it's imperative to be aware that you'll be required to endorse the transaction within your MetaMask wallet. Take note that this endorsement entails a transaction fee.

7. Tracking Your Staking

Once your delegation is complete, you can track its status on the Shibarium website. Visit shibarium.shib.io/my-account to see a summary of your staking activities. Here, you'll find information about the validators you've staked to, the amount you've staked, and any rewards you've earned.

Making Staking on Shibarium Work for You

By adhering to these steps, you're embarking on a rewarding journey towards proficient staking on the Shibarium network. Keep in mind that staking is a vibrant process that not only bolsters the network but also grants you rewards. As you delve into this realm, remain vigilant about updates and modifications to maximize your staking venture.

Kindly be aware that the instructions presented are accurate as of the current writing, and potential modifications may arise as the network progresses and develops.

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