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Solana Killer Aptos (APT) Launches Delegated Staking, Here Are Benefits

Fri, 04/21/2023 - 12:13
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Godfrey Benjamin
Aptos has launched its delegated staking feature to enhance ecosystem participation
Solana Killer Aptos (APT) Launches Delegated Staking, Here Are Benefits
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Aptos (APT), the high performance Layer 1 blockchain protocol, has launched one of its most anticipated features, dubbed delegated staking. As unveiled on its Twitter account, Aptos said the delegated staking feature is user friendly and generally makes the service more accessible to users.

Staking is a network offering whereby users lock their tokens in a dedicated smart contract to support the activities of a proof-of-stake (PoS) protocol. For locking their tokens, investors generally get rewarded through the fees paid by users making use of the platform.

Staking has been seen as a viable investment means; however, there has been strong regulatory contentions around it since the SEC cracked down on Kraken Exchange earlier in the year.

With Aptos staking, the protocol said users can delegate their APT to a trusted network validator and earn rewards as an individual—providing options outside of the previous threshold. The protocol said its offering benefits users by enabling them to earn without having to assume the strain associated with operating nodes.

Additionally, Aptos delegated staking will encourage self-custody, increase accessibility and promote flexibility for all of the key stakeholders in its ecosystem.

Aptos (APT) Forms Symmetrical Triangle Pattern: Here's What It Means

Aptos is building encompassing utility

Aptos has made several moves over the past few months to establish its footing as an emerging protocol with great potential. As reported earlier by U.Today, the protocol launched its Lava Testnet last month as it seeks to give developers on its network the right tools to innovate.

Since it made its emergence, Aptos has grown much more in popularity, and the token bounced markedly after a tweet from Twitter CEO Elon Musk. Despite the growing competition in the industry as concerns the fight for relevance, Aptos also launched the NFT Wormhole Bridge to enhance innovation in its ecosystem.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.