- Chainlink announces its updated roadmap for the implementation of staking.
- Implementation of long-term goals for staking was planned for the second half of 2022.
- After updates, the native token LINK hits its four-week high.
Chainlink is one of the popular cryptocurrencies in the market which has already captured its notable position in the eyes of users. Each network has its own features and regular updates, while some gain traction because of innovation. Similarly, the recent update from the Chainlink network has gained the attention of crypto holders.
Significantly, Chainlink announces its updated roadmap and long-term goals for the implementation of staking. This mechanism is fetched to add a new level of cryptoeconomic security to Chainlink. This feature allows crypto incentives and penalties to be used for encouraging the network’s correct operation.
Staking marks the start of #Chainlink Economics 2.0, a new era for the long-term security and sustainability of oracle networks.
In this update, we define the long-term goals, roadmap, and initial implementation of staking in the Chainlink Network.https://t.co/WJkoUzPA0i
— Chainlink (@chainlink) June 7, 2022
Long-Term Goals Of Staking
According to Chainlink, the implementation of long-term goals for staking was planned for the second half of 2022. Following it marks the start of Chainlink Economics 2.0 which is the “new era of security and sustainability”.
Chainlink (LINK) staking aims to enhance Chainlink oracle services’ cryptoeconomic security and user certainties. Followed by empowering a huge number of community members. The final key goal is to create and distribute rewards to stakers. Subsequent to the updates of the roadmap, the native token LINK hits its four-week high.
However, the price of LINK has soared to $8.67 which is 11.58% up in the last 24-hours. According to Coinmarketcap, LINK is one of the best-performing cryptocurrencies for the last day with a market capitalization of $3.9 billion. The current price value hits a new high in four weeks, indicating the day’s trend following the roadmap update. Although, LINK is expected to surge further after a series of updates and implementations from the network.