Staking (PoS) allows users to participate in Decred’s Governance. To have your say, you can lock up your DCR funds in return for tickets. Participants are given a real voice in the decision-making and rewarded for engagement in the projects governance.
Participation in Staking (PoS) is open to everyone and requires time-locking a portion of your DCR in return for tickets. Current price of a ticket is 220.85 DCR
The purpose of these tickets is twofold: - Firstly they serve an automatic function of voting on the validity of new blocks. - Secondly they grant the right to partake in the decision-making processes which determines the future of Decred.
The process of staking is essentially like a lottery, where tickets are chosen to vote randomly.
A successful vote returns the participant the original cost of the ticket and a part of the blockreward as profit.
In case the vote misses (0.5% probability), original cost of the ticket is safely returned without the reward. Average time for a ticket to vote is within 28 days and maximum up to 142 days.
Voting Service Providers (VSPs) allow you to participate in Decred’s proof-of-stake (PoS) system without the need to keep a constantly unlocked wallet or worry about losses due to downtime, flaky internet.
VSPs are used to delegate your voting powers. The VSP can cast a vote on your behalf when a ticket is called to vote. VSPs do not hold, manage, or transfer any of your DCR funds. The VSP cannot steal your funds.