4 More Reasons Why You Should Stake DAPP

How Staking Is Constantly Evolving on the DAPP Network

How DAPP Staking Works?

The DAPP Network extends the scope of staking beyond both achieving consensus and reserving network resources. DAPP Service Providers (DSPs), a new layer of on-chain vendors, offer a variety of services to developers including extra memory (vRAM), free virtual accounts (LiquidAccounts), trustless web oracles (LiquidOracles), domain names services (LiquidDNS), and more. Service packages designed by the DSPs set out exactly which utility is being offered and at what cost.

Now we’ll look at another 4 reasons why you should stake DAPP Tokens and participate in the optimal demonstration of the staking economy.

  • Hold DSPs Accountable
  • Boost Your Favourite Teams with Leasing Markets
  • Spin Up Your Own LiquidChain
  • Support the CoVax Efforts Against COVID-19

A staking renaissance is happening on the #DAPPNetwork.

Staking DAPP is becoming key to unlocking powerful utility for users and developers alike as the network continues to evolve.

#KeepCalmAndStakeDAPP

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Hold DSPs Accountable

Successful tokenomic design involves configuring a network in such a way that users maximize the growth of the overall network by pursuing their own financial interest. Making it worthwhile to play fair and disincentivizing bad behavior is key to a well-functioning ecosystem.

Boost Your Favourite Teams with Leasing Markets

Leasing markets for resources allow developers to access resources on a ‘pay-as-you-go’ model, bringing efficiency to resource allocation. Developers require these network resources, such as storage, computation, and memory, in order to build and operate smart contracts. Yet, the scarcity of these resources on public blockchains means that there is always uncertainty as to whether a developer has sufficient resources to maintain their dApps.

Spin Up Your Own LiquidChain

LiquidChains is a blockchain-as-a-service solution running on the DAPP Network that allows anyone to spin up customizable chains and connect them to a public network (if they want to.) Chain creators pick their validators and configure their LiquidChain with any combination of providers that wish. They could also decide on a consensus mechanism for the chain, one that incorporates the novel staking mechanism of the DAPP Network. Once these LiquidChains have been created, they are instantly compatible with the range of scaling services available on the DAPP Network, such as LiquidStorage, LiquidHarmony and more.

  1. Distributed Computing Project: CoVax, the first LiquidChain to go alive, was initiated as a community project to fight against COVID-19 by creating a pool of computing resources for use in scientific computation. Researchers, particularly those working on a vaccine, need vast amounts of computational power in order to perform tasks such as molecular structure simulations, protein folding and AI modelling. These tasks are essential to understanding how the virus travels, evolves and mutates, and to help discover what treatments are effective in stopping its spread. The CoVax app will allow anyone to donate processing power from their phones, desktop or GPUs towards the shared resource pool. On the other side, any researcher that is working on a biomedical effort and needs access to additional computational power could tap into CoVax for that very purpose.
  2. Application-Specific Shard: Sharding is a scaling technique that splits a single blockchain into many smaller shards, each of which process its own activity while remaining connected to both other shards and the ‘main chain.’ dApps, and DeFi dApps in particular, can utilize sharding to create an application-specific LiquidChain just for them that would run parallel to the ‘main chain’ and connect to it if they so wish. By utilizing DAPP Network services running on that LiquidChain, dApps can offload storage, computation, data and other tasks to their LiquidChain and use the main chain as a lightweight way to record state.

Support DSPs Running CoVax

COVID-19 threatens us all, and we can all play a role in mitigating the effects of the virus. CoVax isa community-driven effort initiated by LiquidApps to support the fight against COVID-19 with the aid of blockchain technology. The CoVax app will allow users to donate processing power from their phones and desktop to researchers in search of a vaccine, and it will run on its own dedicated LiquidChain. Researchers could use the additional power to streamline computational-heavy tasks such as modeling the molecular structure of the virus and using protein folding to understand how it infects humans and use that information to stop its spread.

Be A Part of the Staking Evolution

We are witnessing an economic renaissance driven by the novel staking mechanism on the DAPP Network. Staking towards DSPs empowers the DAPP Network, no matter the cause. DAPP staking is constantly evolving and we invite you to discuss, together with LiquidApps’ team and the DAPP Network, additional ways it could provide value to DSPs, developers and users.

Follow LiquidApps

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DAPP Network

DAPP Network aims to optimize development on the blockchain by equipping developers with a range of products for building and scaling dApps.