Decentralized computing protocol Chainlink has released Chainlink Staking v0.2, which upgrades the underlying staking mechanism and expands the pool size to 45 million. link
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A 9-day “priority migration” period begins today to allow existing v0.1 stakers to transfer their staked LINK and rewards to the new version. According to the statement, access will be extended to other participants through early access and general access phases on December 7 and December 11 respectively, allowing users to stake up to 15,000 LINK.
Chainlink hopes to open the door to a wider range of LINK token holders by increasing the staking pool size to 45 million LINK, or 8% of the current circulating supply. This expansion is part of Chainlink’s Economics 2.0 initiative, which aims to add an additional layer of security to the network.
Chainlink is the most widely used oracle network in the cryptocurrency space, providing external real-world data to blockchain applications. Chainlink staking was first activated in December to increase the utility of the token and allow LINK holders to receive rewards for supporting the performance of oracle services and helping secure the network. Initially, access was only available for staking to secure the Ethereum ETH/USD price feed, with pools limited to 25 million LINK tokens.
“Improving cryptocurrency security is becoming increasingly important as the amount of value secured and paid out over the Chainlink network continues to increase,” said Chainlink co-founder Sergey Nazarov. “Staking v0.2 introduces important new security features and sets the system up for further growth in the future.”
Flexible, secure and modular design
The new version is designed to provide a more flexible unbonding mechanism, allowing stakers to withdraw staked tokens more efficiently and providing improved security guarantees. The modular architecture aims to increase adaptability, making it easier to integrate future upgrades and enhancements.
Chainlink Staking v0.2 also integrates a “dynamic rewards mechanism that can seamlessly support new reward sources in the future.”
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