Close
With the introduction of New Chainlink update, Chainlink Staking version 2.2, with an increase in the size of the pool of 45 million, was introduced to the users of this blockchain. In this post from Pooyan Music site, we will discuss the new features of the second version of Chainlink.
According to a press release on Tuesday, the launch of the v2 upgrade will begin with a 9-day priority migration phase for existing v0.1 shareholders.
During this period, users will have the opportunity to transfer the wagered LINK and related rewards to version 2. This access is going to be rolled out gradually, with early access scheduled for December 7th and general access on December 11th.
By increasing the pool size to 45 million LINKs, equivalent to 8% of the circulating supply, the decentralized computing protocol aims to attract a wider range of LINK token holders.
Sergey Nazarov, one of the founders of Chainlink, said: “As we see a continuous increase in the amount of value secured and paid through the Chainlink network, it is very important to improve the security of this digital currency of the network. The second version of Stacking introduces important new security features and prepares the system for further growth in the coming year.
According to Chainlink whitepaper, this currency plays a pivotal role in providing blockchain applications with external real-world data as the most widely used oracle network in the crypto space. Chainlink first introduced the staking feature in December. With this capability, it increased the utility of the token and allowed LINK holders to support the performance of Oracle services. Initially, the investment was limited to securing the Ethereum ETH/USD price feed, with a limited pool of 25 million LINK tokens.
Chainlink Stacking version 2 was created with the aim of introducing a more versatile discontinuity mechanism. So that it allows shareholders to withdraw their staked tokens with increased efficiency. This upgrade also brings improved security guarantees to the stock process. Chainlink Stacking’s modular architecture is designed to increase compatibility and simplify the integration of future upgrades and enhancements into the system.
Chainlink Staking v2 also “incorporates dynamic reward mechanisms that can seamlessly support new reward sources in the future,” the team said.
When the priority migration period ends on December 7, 2023, LINK token holders who meet at least one pre-defined criteria on the updated early access eligible list. These people will be eligible to subscribe up to 15,000 LINKs in version 2.2.
After early access ends on December 11, 2023, the version 2 stock pool will be available for public access. During this phase, everyone will have the opportunity to share up to 15,000 LINKS. Of course, provided that the version 2 pool does not reach its maximum capacity.
