02-10-2023, 07:30 PM
We need to aggressively stop centralized players from using the term "staking" to de
<!-- SC_OFF --><div class="md"><p>My Suggestion:</p> <p>Staking = On-chain, decentralized locking of a cryptocurrency via smart-contract in return for yield or other benefits.</p> <p>Custodial Investment = Centralized off-chain custody in return for yield or other benefits.</p> <p>What has happened over the past year with players like Celsius, Voyager, and FTX is largely the result of people's confusion on this issue. This problem will only increase as the SEC and other regulators get involved. Staking is NOT giving your crypto to a third party for rewards. We need to create and enforce two clear definitions.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/BiggusDickus-"> /u/BiggusDickus- </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/10ytvhq/we_need_to_aggressively_stop_centralized_players/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/10ytvhq/we_need_to_aggressively_stop_centralized_players/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>My Suggestion:</p> <p>Staking = On-chain, decentralized locking of a cryptocurrency via smart-contract in return for yield or other benefits.</p> <p>Custodial Investment = Centralized off-chain custody in return for yield or other benefits.</p> <p>What has happened over the past year with players like Celsius, Voyager, and FTX is largely the result of people's confusion on this issue. This problem will only increase as the SEC and other regulators get involved. Staking is NOT giving your crypto to a third party for rewards. We need to create and enforce two clear definitions.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/BiggusDickus-"> /u/BiggusDickus- </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/10ytvhq/we_need_to_aggressively_stop_centralized_players/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/10ytvhq/we_need_to_aggressively_stop_centralized_players/">[comments]</a></span>