Staking Solana is especially done with Everstake - a validator with over 100,000 delegators - although some pools have high stakes with considerably less delegators. Staking pools work somewhat similar to a bank account, where one would submit money to hold and gains interest as time goes by. In the case of Solana, its own community introduced the concepts of staking rewards and inflation. So-called validators verify transactions made on Solana's Mainnet and get additional cryptocurrency as a reward for doing so. This mechanism is called "Proof-of-Stake" or PoS: people "stake" - their own cryptocurrency in an automated system - often a wallet, where people will simply hold their crypto - which at certain times will randomly pick a person who gets to validate a batch of blockchain transactions and gains new cryptocurrency as a reward. Staking pools serve as an easy point of entry for those who do not have a lot of cryptocurrency - and might have less chance to get picked than those who do have many ADA coins - or lack the technical know-how to validate blockchain transactions. In such pools they can "delegate" their crypto to more skilled validators.
Biggest staking pools for Solana (SOL) based on total staked value on November 11, 2022
Characteristic
Staked value (in million SOL)
Total stake (in percent)
Number of delegators/members within the pool
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Website (Solana Beach). (November 11, 2022). Biggest staking pools for Solana (SOL) based on total staked value on November 11, 2022 [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1280174/solana-biggest-staking-pools/
Website (Solana Beach). "Biggest staking pools for Solana (SOL) based on total staked value on November 11, 2022." Chart. November 11, 2022. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1280174/solana-biggest-staking-pools/
Website (Solana Beach). (2022). Biggest staking pools for Solana (SOL) based on total staked value on November 11, 2022. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1280174/solana-biggest-staking-pools/
Website (Solana Beach). "Biggest Staking Pools for Solana (Sol) Based on Total Staked Value on November 11, 2022." Statista, Statista Inc., 11 Nov 2022, https://www.statista.com/statistics/1280174/solana-biggest-staking-pools/
Website (Solana Beach), Biggest staking pools for Solana (SOL) based on total staked value on November 11, 2022 Statista, https://www.statista.com/statistics/1280174/solana-biggest-staking-pools/ (last visited July 22, 2024)
Biggest staking pools for Solana (SOL) based on total staked value on November 11, 2022 [Graph], Website (Solana Beach), November 11, 2022. [Online]. Available: https://www.statista.com/statistics/1280174/solana-biggest-staking-pools/