What Is Sui?
Sui is a cutting-edge blockchain platform designed for high-speed transactions and decentralized applications. Utilizing the Proof of Stake (PoS) consensus mechanism, Sui ensures security, scalability, and energy efficiency. The platform aims to empower developers and users by providing robust tools and infrastructure for creating innovative blockchain solutions.
Is Sui Staking Safe?
For the average user, staking SUI tokens is as safe as simply storing them in your wallet. All transactions, whether in a wallet or staked, are processed by smart contracts and the blockchain without human intervention. Therefore, staking offers the same level of reliability and security as keeping tokens in a wallet.
Why You Need to Stake Sui?
Staking is an integral part of blockchains operating on the PoS protocol. Let’s explore the main reasons users stake SUI:
-
Supporting the SUI Blockchain: For the stable and secure operation of the SUI blockchain, transaction validation is required, which is only possible with a large and decentralized volume of staked SUI tokens. This is why many users participate in staking their favorite blockchain’s tokens.
-
Investments: Users who invest in tokens for the long term choose staking as an additional income multiplier and protection against inflation. Staking is as reliable and safe as storing tokens in an address while providing good returns.
-
Exploring New Features: Many users limit themselves to simple token transfers. However, some want to explore all the blockchain’s possibilities, thus experimenting with swaps and staking.
Storing and Staking SUI
You can store SUI tokens and stake them simultaneously. For example, allocate some tokens for long-term investment and stake them, while keeping a small portion for operational purposes, such as paying transaction fees for SUI tokens or NFTs. You decide how many SUI tokens to stake and can also withdraw tokens from staking.
I Want to Learn More About Staking SUI
We have prepared a special tutorial to help you understand SUI staking - Learn more about staking SUI