This article answers the most common questions about staking crypto assets with Ledger Validators.
What is Staking?
Staking is one of many ways crypto networks secure themselves and come to consensus. In return for staking their assets, stakers earn rewards on their holdings.
Instead of obligating blockchain nodes to employ high computing devices, the PoS protocol requires them to stake their cryptocurrencies. The staked amount acts as proof that the nodes responsible for verifying the transactions will act with integrity because their money is at stake.
Typically, a PoS blockchain randomly chooses validators for verifying new blocks depending on the amount each node has staked. A node that has staked more cryptocurrencies has a better chance of acting legitimately, so the network allows them to approve more valuable transactions than those that have lower stakes. Once a node verifies a block, the network rewards them in its native cryptocurrency.
That is a staking reward. That’s exactly how you can increase holdings of your crypto assets. Learn more about staking on Ledger Academy.
Starting from 2022 Ledger launches validators node in partnership with infrastructure providers (eg. Figment) and on its own Ledger's infrastructure (eg. on Cosmos (ATOM) blockchain).
What is Figment?
Figment is one of the world’s largest blockchain infrastructure and services provider for staking. Figment provides a staking infrastructure and service on 50+ protocols. You can learn more about Figment's staking and node's infrastructure here.
From January 2022, Ledger in partnership with Figment is going to launch the validator nodes for the following networks:
If the crypto-asset is not available for staking in Ledger Live, you need to go to the third-party wallet that supports the staking feature and there you can stake with Ledger by Figment Node.
|Crypto-asset||Ledger Live Support||Ledger Live Staking||Wallet|
|No||No||Yoroi, Adalite, Daedalus|
Then in the list of validators, you can search Ledger by Figment validator. For each crypto, the staking process will be different and you should check the documentation of the wallet you selected.
Everyone can run their own validator node. It can become a concern for security since you do not know who is behind the node. On the contrary, Ledger by Figment is managed by a world-class staking infrastructure team at Figment.
Starting from January 2022, Ledger is launching its own validator node on several blockchains starting from Cosmos (ATOM) and many others to come. Ledger validator node's infrastructure is fully run by our team.
You can check the stats of Ledger Node on blockchain explorer here.
Depending on the asset, you can stake directly from Ledger Live or with a help of a third-party wallet and your Ledger device.
When it comes to stake ATOM, you can directly stake from Ledger Live and find our node in the list of validators. More on earning staking rewards with ATOM here.