Benefit & Equity- The Rising of Staking Economic

7/6 CMO Joined BIGGERCHAIN 2019 China’s blockchain leaders Forum

The BIGGERCHAIN 2019 China’s blockchain leaders Forum was held in Chengdu,China on July 6th. It was organized by Honeycomb Finance, supported by OKEx, NCX, and CoinAll. Staking is a hot topic discussed on the Forum.

Staking has become the most popular topic in the blockchain field since the IEO. Holders are depositing their tokens in the nodes in order to gain dividends. As a new kind of stuff, staking also faces challenges such as high entry-level, safety risks and a lack of flexibility.

During the roundtable hosted by Vice CEO of FutureMoney, “Benefit & Equity- The Rising of Staking Economic” was discussed. Anthurine Xiang, co-founder and CMO of QuarkChain as well as Frank, CEO of Skr, Wenbing Zhong, CTO of Qtum, Kun Bo, founder of Bixiaobai and Mingqin Shen, CMO of ChainX all shared their opinions about staking.

What is staking?

Anthurine Xiang:It is quite an interesting word. “Staking” means pledge while stake means stock equity and profits. Rather than simply gaining profits by putting tokens into nodes, staking encourages people to participate in the development of the community’s ecosystem and become a part of it.

How to avoid high risks for investors when the profits are high?

Anthurine Xiang:Different projects offer different profits. Higher profits mean bigger risks. I think there are certain aspects investors should be concerned about. For example, what will happen if the projects or nodes run away?

How to attract the token holders to join staking?

Anthurine Xiang:It’s unrealistic to ask everybody to join staking, and not every investor in a project is the token holder. It’s a failure for a public blockchain if staking is the only function of its tokens. Staking is a crucial part of QuarkChain and more values remain to be discovered in the future.

What do you think of the future of the “staking economy”?

Anthurine Xiang:I’d like to talk about the trends of staking’s development. PoW has served for Bitcoin well for the past almost ten years without any downtime, proving itself to be the most reliable consensus. However, PoW also has its advantages. When an underlying consensus mechanism is written, it is unmodifiable. We hope to adopt the advantages of PoS, which are much easier than transforming consensus to POS. QuarkChain adopts state sharding technology and each shard could support different consensuses. Currently, QuarkChain supports PoW and PoSW. In the future, PoS, DPoS and other consensus mechanisms will also be supported.

Thank you for reading the event summary, we will publish the full video soon. Thank you for supporting QuarkChain.