Liquid Restaking Protocols: The Top 5 LRT Tokens To Watch in 2024
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Table of contents
What is Staking?
Staking is a process that allows users to lock their crypto holdings, or in other words, their “stake,” to ensure the safety and operation of a blockchain ecosystem. While staking is possible only on blockchain networks such as Ethereum and Cardano built on a Proof-of-Stake (PoS) consensus mechanism, it helps to validate transactions.
The Concept of Restaking
Restaking is a novel concept that allows staking the same ETH across Ethereum and other blockchain networks. It involves reusing staked or locked Ether at the consensus layer to earn fees and rewards.
EigenLayer
EigenLayer is a decentralized Ethereum restaking protocol that acts as the software between an operating system and its applications. The protocol has adopted restaking as its fundamental element, permitting users to stake and restake liquid staking tokens (LST) within the…
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