Circle’s Exchange Poloniex Announces Plans To Support Staking For Cosmos (ATOM)
Poloniex exchange ha just revealed that they are soon going to unveil staking rewards for Cosmos (ATOM). Staking for Cosmos atoms reflects a range of innovative events the exchange has extended to atom holders, including reparation for ICO participants, margin trading and lending.
— Poloniex Exchange (@Poloniex) May 8, 2019
Poloniex is a pure crypto to crypto exchange based in the United States. With a grand redesign in early 2015, the site has added a wealth of features to provide a fully immersive trading experience. Poloniex, or Polo, offers its customers high-level security by the use of two-factor authentication, handy analytical and technical tools, low transaction fees (from 0 to 0.25%) and more than 140 directions for exchange. They have a huge advantage of being a part of Circle.
The exchange has goals to create a network of blockchains all capable of interacting with one another through a consensus engine called Tendermint Core. They have revealed solutions to solve many of the interoperability and scalability issues needed for blockchain applications to reach mainstream adoption.
The Cosmos Network uses Delegated Proof-of-Stake which means that instead of miners committing custom hardware and electricity towards solving computations that secure the network, Cosmos validators “stake” atoms in order to secure the network.
According to their official announcement, the exchange is ‘building the infrastructure to stake a portion of customers’ atoms to allow them to effortlessly earn staking rewards without friction while trading.’