Ethereum (ETH)-Based Blockchain Oracle Altcoin Reveals New Steps in Staking Protocol Upgrade

It has been just reported that an ETH-based blockchain, Oracle altcoin, has some new steps in the staking protocol upgrade. Check out the latest reports about this below.

Blockchain oracle service Chainlink (LINK) has just revealed a massive upgrade that is on its way to its staking mechanism. On the social media platform X, it has been revealed that we can expect Chainlink Staking v0.2.

It is also important to note the fact that this is currently being prepared with a new pool of 45 million LINK tokens.

According to the latest reports coming from the online publication the Daily Hodl, the upgrade focuses on four main components, according to Chainlink:

“a new unbonding mechanism, stake slashing, a dynamic rewards system and a new modular architecture to ensure smoother future upgradability.”

Unbonding comes right after unstaking – here, coins are locked on the blockchain for a period of time before they are released to users.

Stake slashing means that a staker’s coins are taken, or “slashed” by the network. This happens in case they don’t follow certain rules or behave maliciously.

The migration to v0.2 will be launched during three phases that prioritize v.01 stakers.

The Chainlink blog stated the following:

“Chainlink Staking is a key crypto economic security mechanism in which stakers commit LINK tokens in smart contracts to back certain performance guarantees around oracle services.”

The notes continued and said this:

“The addition of staking enables Chainlink decentralized oracle networks (DONs) to scale to service a broader range of applications and higher value use cases across Web3 and traditional Web2 industries.”

Apart from all kinds of project upgrades that the crypto space has been seeing, there are also various new and mostly optimistic crypto predictions that are flooding the crypto space these days.

Most of them are related to the imminent approval of a BTC ETF.