Which term describes the process of actively participating in the decision-making and governance of a blockchain network?
Which term describes the process of actively participating in the decision-making and governance of a blockchain network?
Answer: The term that describes the process of actively participating in the decision-making and governance of a blockchain network is called “staking.” Staking involves the act of holders of a particular cryptocurrency locking up some of their coins in a wallet to participate in maintaining the operations of a proof-of-stake blockchain. In return for staking their coins, participants can receive rewards in the form of additional native cryptocurrency. Staking plays a crucial role in securing the network, validating transactions, and contributing to the overall governance of blockchain systems. It is a way to incentivize network participants to act in the best interest of the network, promoting decentralization and security.